SK Earthon secures rights to explore 2 offshore oil blocks in Indonesia

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The story "SK Earthon secures rights to explore 2 offshore oil blocks in Indonesia" was covered 6 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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SK Earthon secures rights to explore 2 offshore oil blocks in Indonesia - Korea Economic Daily

Quick Summary:

The acquisition cements SK Earthon’s strategic presence in the region, complementing existing assets in Vietnam and Malaysia, and giving new momentum to its "clustering" strategy in Southeast Asia – an approach that focuses on operations in high-potential areas to improve efficiency and synergy.“Leveraging our success in Peru and Vietnam, we intend to make Indonesia a core part of our upstream growth story,” said an SK Earthon official.

SK Earthon Co., the petroleum exploration and production (E&P) unit of South Korea’s top energy company SK Innovation Co., has secured rights to develop two promising oil and gas blocks offshore Indonesia – a significant expansion of its upstream portfolio in Southeast Asia.

SK Earthon said on Thursday it won the rights to explore two blocks –Serpang, northeast of Java Island, and Binaiya, near the eastern Maluku Islands – through a competitive bidding process organized by the Indonesian government.