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Jakarta Post

Pertamina sends bid for Corridor block in South Sumatra

Pertamina sends bid for Corridor block in South Sumatra The president director of state-owned oil and gas company Pertamina, Nicke Widyawati. (JP/Umair Rizaludin)
Stefanno Reinard Sulaiman 
News Desk   ●   Sun, September 16, 2018 2018-09-16 13:42 972 882ab4bc56dbda08a069b3087731370b 1 Business ConocoPhillips,pertamina,oil,oil-block Free

State-owned energy holding company Pertamina has sent a proposal for South Sumatra's Corridor block, which is currently under the operation US-based oil firm ConocoPhillips, a government official said on Friday.

"I received the initial proposal yesterday," the ministry's director general for oil and gas, Djoko Siswanto, said. 

Under the prevailing ministerial regulation No. 23/2018 on the oil and gas block's contract, which is set to expire in 2023, Pertamina and the existing contractor both have the right to bid for the extension. 

Previously, Deputy Energy and Mineral Resources Minister Arcandra Tahar said the government would evaluate the extension of Corridor block this month. 

"We will have discussions about data, future potential, economic value and other prospects," he said. 

According to Upstream Oil and Gas Regulatory Special Task Force data, as of April, the block produced 6,666 barrels of oil per day and 949.65 million standard cubic feet of gas per day. (evi)