CPI disappointed over decision on Siak, promising smooth transition
Friday, November 29 2013 - 12:47 PM WIB
PT Chevron Pacific Indonesia (CPI) said on Friday it was disappointed over the Government?s decision to hand over the expiring Siak block to state owned oil and gas firm PT Pertamina (Persero), but promised a smooth transfer of the block to the new operator.
"While CPI is disappointed that its production sharing contract for the Siak block has not be extended, the company respects the decision," CPI Corporate Communication Manager Dony Indrawan told Petromindo.com, on Friday.
He said CPI, as the interim operator of the bock, is committed to carrying out a safe and efficient transfer of the block to Pertamina.
CPI, according to him, is proud that it has employed and applied a world class technology, workforce and practices to manage the mature block safely, reliably and efficiently on behalf of the Indonesian people.
Minister of Energy and Mineral Resources Jero Wacik has decided to hand over the Siak block, whose contract expired on Nov. 27, 2013, to Pertamina.
In order to maintain operations and production continuity and while waiting for upstream authority SKK Migas and Pertamina to finalize cooperation contract on the block, CPI will temporarily operate the block, probably for another six months, until the transfer process to Pertamina has been completed, SKK Migas said in a statement.
SKK Migas said during the period of interim management, Pertamina and CPI will settle matters related to the transfer of data, assets, human resources, and so on.
Editing by Johannes Simbolon