Govt, four foreign firms to sign new PSC contracts

Government is scheduled today to sign PSC contracts with international oil firms ExxonMobil, Husky Energy, Marathon Oil and Petronas Carigali, all of which have won exploration acreages through regular tender.

ExxonMobil sign PSC contract for Surumana block, Marathon-Talisman will get Pasangkayu block, both of which are located in Makassar Strait. Petronas Carigali will get Lampung II block in Offshore Lampung and Husky Energy will get East Bawean II offshore East Java.

The planned signing of the contract will be conducted in the Ministry of Energy and Mineral Resources witnessed by Minister Purnomo Yusgiantoro.

ExxonMobil is awarded 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.

Marathon Oil, together with Canadian top oil producer Talisman Energy are awarded highly competed Pasang Kayu 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.

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

Malaysian firm Petronas Carigali gets Lampung II offshore block in Lampung. Petronas committed to conduct 250 km 3D seismic and to drill 2 wells with signing bonus of $1 million.

Another 10 blocks offered in the tender round either failed to attract bidder or bidders failed to meet bidding criteria. (godang)