Govt, five foreign firms sign new PSC contracts

Upstream oil and gas regulator BP Migas signed on Friday PSC contracts with five international oil firms ? Petronas Carigali Lampung II Ltd., Husky Oil East Bawean Ltd., Marathon International Petroleum Indonesia Ltd., ExxonMobil Exploration and Production Surumana Ltd., and ConocoPhillips (Amborip VI) Ltd.

The signing of the contracts was held in the Ministry of Energy and Mineral Resources witnessed by Minister Purnomo Yusgiantoro.

The contracts are valid for 30 years.

Petronas Carigali Lampung II Ltd., established by Marshal Island, signed Lampung II Block and is committed to drill 2 exploration wells and conduct 250 km 3D seismic survey on the block. The company agreed to pay a signing bonus of US$1 million.

Canadian oil firm Husky Energy signed East Bawean block offshore East Java. The company has agreed to conduct 1,410 3D seismic and to drill 2 wells on the block with signing bonus of $2 million.

Marathon Oil, together with Canadian top oil producer Talisman Energy signed highly competed Pasangkayu offshore block, also in Makassar Strait. The partnership pledged to conduct 2,500 kms 2D seismic and committed to drill 4 wells in the block with signing bonus of $5 million. ExxonMobil was also known to have competed for this block.

ExxonMobil signed contract for Surumana offshore block in Makassar Strait. The company is committed to conduct 1,759 km 2D seismic on the block with 3 wells commitment. The company will pay signing bonus of US$ 5 million.

Meanwhile, ConocoPhillips signed a contract for Amborip VI block in Arafura sea, Papua . The company is committed to conduct drilling activities in 2 exploration wells make 2,000 km 2D seismic survey on the block with signing bonus of US$1.25 million. (godang)