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View all search resultsContract agreements of five blocks to be signed this week
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Deputy Energy and Mineral Resources Minister Arcandra Tahar. (Antara/Akbar Nugroho Gumay)
D
eputy Energy and Mineral Resources Minister Arcandra Tahar said on Tuesday that the ministry would sign contract agreements with oil and gas operators for five blocks whose existing contracts end in 2020.
“We completed the terms of conditions for five blocks recently. We will sign the PSC (production sharing agreement) on Friday at the latest,” Arcandra said as quoted by kontan.co.id, adding that the document was being finalized.
The five blocks are South Jambi Block, which will be operated by PT Petro China International Indonesia; Malacca Strait Block, to be operated by PT Energi Mega Persada; Brantas Block under PT Lapindo Brantas; and the Salawati and Kepala Burung blocks under Petrogas.
The companies' five-year total investment commitment (before present net value) was US$292 million, while the total signature bonus was $10.5 million, Arcandra said.
The investment total is US$115.55 million for Brantas Block, $45.75 million for Malacca Strait Block, $32.75 million for South Jambi Block, $61.22 million for Kepala Burung Block and $36.25 million for Salawati Block.
Meanwhile, the total bonus for Brantas Block was decided at $1 million, while Malacca Strait Block inked a bonus of $2.5 million, South Jambi Block $5 million, Salawati Block $1 million and Kepala Burung Block $1 million. (bbn)
