Malaysian state giant Petronas has secured a crucial extension of the production sharing contract (PSC) for the Ketapang asset in the Java Sea, offshore Indonesia.

Petronas said in a statement on Thursday that its subsidiary PC Ketapang II (PCK2L) “has secured the 20-year extension of the PSC for the Ketapang working area.”

“Due to expire in 2028, the Ketapang PSC extension was officially granted by the Government of Indonesia through the Ministry of Energy and Mineral Resources on 22 December 2023 with the same composition of participating interests,” it noted.