Baron Oil Eyes Southeast Asian Offshore Projects

Baron Oil announced March 27 that it is in talks with Singapore-based SundaGas over a project in southeast Asia. The UK company said it is reviewing a “significant offshore exploration opportunity”. Under discussion is an “established” production sharing agreement (PSA) near producing fields and infrastructure.

“[W]e anticipate that rapid progress can be made if current discussions are successful,” Baron said in a statement. The UK company established a joint venture with SundaGas in 2016 to find new opportunities in southeast Asia.

Baron noted that a separate southeast Asia block application lodged by Sundagas in 2016 is “still live”. Delays on a decision to award the block could now be due to end, the company claimed. If the block is awarded to SundaGas, Baron will have the right to request assignment of a 25% interest.