Conoco, PGN clinch Batam gas deal
Thursday, April 15 2004 - 07:41 AM WIB
US oil, gas major ConocoPhillips has clinched deal with state gas distribution firm PT Perusahaan Gas Negara (PGN), an executive at upstream oil, gas watchdog BP Migas said Thursday.
?ConocoPhillips and PGN had agreed to price the gas at US$2.49 per MMBTU. Under the 15-year contract, ConocoPhillips will supply 50 MMCFD of natural gas to the industrial island of Batam starting late this year,? BP Migas vice-chairman Kardaya Warnika told Petromindo.Com.
Kardaya said gas sales agreement would be signed this year. Gas from ConocoPhillips-operated Corridor block will be piped through South Sumatra-Singapore pipeline network. Kardaya said gas would be resold by PGN to its customers such as state electricity firm PLN.(godang)