17 PSCs set to expire through 2019

A total of 17 Production Sharing Contracts (PSCs) will end from this year through 2019. Of the total, the contracts on two blocks, namely Gebang and ONWJ, were extended on Dec. 13, 2014.

This was said by acting Director General of Oil and Gas I Gusti Nyoman Wiratmadja during a hearing with the House of Representatives? Commission VII on Tuesday evening, the Ministry of Energy and Mineral Resources said in a statement on Thursday.

The 17 PSCs are:
1. Gebang Block (expires in 2015)
2. Offshore North West Java (expires in 2017)
3. Lematang Block (expires in 2017)
4. Warim (expires in 2017)
5. Mahakam Block (expires in 2017)
6. Attaka (expires in 2017)
7. Tuban (expires in 2018)
8. Ogan Komering (expires in 2018)
9. Sanga-sanga Block (expires in 2018)
10. Southeast Sumatra (expires in 2018)
11. B Block (expires in 2018)
12. NSO/NSO Ext (expires in 2018)
13. Tengah Block (expires in 2018)
14. East Kalimantan (expires in 2018)
15. Pendopo and Raja (expires in 2019)
16. Bula (expires in 2019)
17. Seram Non Bula (expires in 2019)

With regards Mahakam block, Nyoman said, the government prioritizes state owned oil and gas firm PT Pertamina to take over the block after its contract has expired. The firm has expressed interest to operate the block with 100 percent ownership.

?Priority is given to Pertamina. We are waiting for proposal from the firm. But the firm has to follow the existing rules,? he said.

Editing by Johannes Simbolon