INDONESIA SIGNED 11 NEW PSCs

abarrelfull wrote on 22 Nov 2011 06:15
Tags: indonesia upstream

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Jakarta—Indonesia’s Upstream Oil and Gas Executive Agency (BPMIGAS) has signed 11 new Production Sharing Contracts (PSCs) on Monday (22/11). The contract signing was done by Energy and Mineral Resources Minister Jero Wacik, BPMIGAS Chairman R. Priyono, and the oil and gas contractors who have been awarded contracts for the 11 working areas.

According to the press statement published by the ministry, the 11 contractors have pledged to invest US$201.3 million for exploration in the first three years. The activities will include G&G study, 3,850 Km 2D Seismic Survey, 1,730 Km2 3D Seismic Survey, and 9 exploration wells. The Contractors will also pay signing bonus totalling US$36.08 million which will receive directly as state revenue by the government.

Also on Monday, the Energy and Mineral Resources Ministry also announced winners of four new working areas auctioned in the Oil and Gas Working Area Regular Tender Phase I 2011. The total investment pledged by the winners reached US$64.5 million which will be spent for the first three years’ exploration activities, including G&G survey, 7,500 km 2D Seismic Survey, and 5,000 km2 3D Seismic Survey. In addition to this, the winning contractors have also pledged to pay the government US$19.35 million for signing bonuses. (ALF)

Eleven New Production Sharing Contracts (PSCs) Signed on Monday (21/11):

NO
WORKING AREAS
CONTRACTORS

1
ARGUNI I
ENI ARGUNI I LIMITED

2
EAST JABUNG
PAN ORIENT ENERGY EAST JABUNG PTY LTD

3
RANAU
PRABU ENERGY PTY LTD

4
NORTHEAST MADURA
TECHWIN ENERGY NORTHEAST MADURA LTD

5
WEST TANJUNG
PT MRI ENERGY

6
BELAYAN
PT GERALDO ENERGY

7
EAST SIMENGGARIS
SONLAW UNITED CORPORATION

8
NORTH GANAL
CONSORTIUM OF NIKO RESOURCES (NORTH GANAL) LIMITED – NORTH GANAL ENERGY LTD – STATOIL INDONESIA NORTH GANAL AS – ENI NORTH GANAL LIMITED – GDF SUEZ NEW PROJECT INDONESIA B.V

9
BABAR SELARU
INPEX BANDA SEA LIMITED

10
OBI
CONSORTIUM OF NIKO RESOURCES (OBI) LIMITED – STATOIL INDONESIA OBI AS – ZIMOREX N.V.

11
SEMAI IV
MURPHY SEMAI IV LT

Winners of Four Working Areas Auctioned in the Oil and Gas Working Area Regular Tender Phase I 2011

NO
WORKING AREAS
WINNERS

1
OFFSHORE TIMOR SEA I
HESS (INDONESIA – V) LIMITED

2
HALMAHERA II
CONSORTIUM OF NIKO RESOURCES (OVERSEAS I) LIMITED – STATOIL ASA

3
WEST ARU I
BP EXPLORATION INDONESIA LIMITED

4
WEST ARU II
BP EXPLORATION INDONESIA LIMITED

• INDONESIA SIGNED 11 NEW PSCs

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