Excerpt (Reuters, Sydney, 12 December 1991):
Eleven production sharing contracts were approved for petroleum exploration in area A of the Zone of Co-operation in the Timor Sea, Australian Resources Minister Alan Griffiths said.
Areas, operator, other interest holders and six-year commitments are:
91-01, Broken Hill Propriety Co Ltd <BHP.AX> unit BHP Petroleum, <Indonesia Petroleum Ltd>, 5000 km seismic, four wells, 33.36 million U.S. dollars.
91-02, Royal Dutch/Shell Group <RD.AS><SC.L> unit Shell Australia Ltd, Chevron Corp <CHV.N> unit Chevron Asiatic Ltd, 2,500 km, one well, 11.8 million U.S. dollars.
91-03, Woodside Petroleum Ltd <WPL.AX>, Shell, BHP, British Petroleum Plc <BP.L> unit British Developments Ltd, 2,300 km, one well, 8.19 million U.S. dollars.
91-04, Woodside, Shell, BHP, BP, 2,300 km, three wells, 19.77 million U.S. dollars.
91-05 applicant withdrew, 91-06 and 91-07 no bids.
91-08 Petroz NL <PTZ.AX>, SAGASCO Holdings Ltd <SAG.AX>, 6,000 km, three wells, 28.5 U.S. Million dollars.
91-09 Enterprise Oil Plc <ETPL.L>, 4,500 km, three wells, 26.4 million U.S. dollars.
91-10 <Marathon Oil Co>, Santos Ltd <STO.AX>, <Korea Petroleum Ltd>, 4,000 km three wells, 21.48 million U.S. dollars.
91-11 Marathon, Santos, Korea Petroleum, 6,000 km, nine wells, 64.48 million U.S. dollars.
91-12 Petroz, Western Mining Corp Holdings Ltd <WMC.AX>, 6,000 km, six wells, 47.4 million U.S. dollars.
91-14 Enterprise, Nippon Oil Co Ltd <5001.T>, 6,000 km, five wells, 42.4 million U.S. dollars.
Griffiths said the contracts would be executed within 30 days between the successful applicants and the Australia-Indonesia Joint Authority for the Timor Gap Zone of Co-operation.
The agreement was made at a meeting of the Ministerial Council for the Zone of Co-operation -- on which Australia and Indonesia each have two members -- attended by Griffiths and Indonesian Mines and Energy Minister Ginanjar Kartasasmita.
Griffiths said bids were received for 12 of the 14 contract areas in area A when bids were open between June 24 and October 7 1991, but one applicant subsequently withdrew.
He said 55 oil companies, including some that previously held exploration interests in the area, lodged applications.