Govt signs 12 contracts for oil and gas blocks
Wednesday, May 6 2009 - 02:27 AM WIB
The contract signing ceremony was held on the sidelines of the Indonesian Petroleum Association (IPA) Convention and Exhibition in Jakarta.
The companies which signed the contracts were the winners of oil and gas blocks offered by the government in December last year through direct offer mechanism. Except for PT Harpindo Mitra Kharisma, the winners of the new oil and gas blocks were announced last week.
PT Harpindo won a 30-year right to explore for hydrocarbon resources in the 4,617.42 sq km Lampung III block, with investment commitment of US$6.6 million for the first three year of exploration. Harpindo also agreed to give a signature bonus of $1.2 million to the government.
The winners (see table below) include Hess Corp who wins the South Sesulu block offshore East Kalimantan; and Esso Exploration International Ltd, a unit of ExxonMobil Corp, who along with partner Biak Petroleum wins the Cenderawasih block offshore West Papua.
The 12 companies which won the contracts pledged to invest a total of $196 million during the first three years of exploration. They also agreed to give signature bonus worth $23.35 million to the government. (godang/bernard)
| DIRECT OFFER | ||||
| No | BLOCK | LOCATION |
WINNER(s) |
SIGNATURE BONUS (million US$) |
| 1 | South Block "A" | Onshore/Offshore North Sumatra | Consortium PT Realto Energi Nusantara & PT Prosys Oil & Gas International | 1.05 |
| 2 | East Pamai | Onshore Central Sumatra | PT Nana Yamano Technik | 1 |
| 3 | West Belida | Onshore South Sumatra | Consortium Orchard Energy Pte Ltd. & PT Bayu Energi Lestari | 1 |
| 4 | Terumbu | Onshore/Offshore Madura | Australian Worldwide Exploration Ltd. | 1.5 |
| 5 | South East Madura | Onshore/Offshore East Java | Consortium PT Bama Bumi Sentosa & PT Toba Sejahtera | 1.5 |
| 6 | Pasir | Onshore East Kalimantan | PT Archipelago Resources | 2.0 |
| 7 | South Sesulu | Offshore East Kalimantan | Hess (Indonesia South Sesulu) Ltd. | 1.6 |
| 8 | Kumawa | Offshore West Papua | Consortium Komodo Energy LLC- Marathon Indonesia new ventures ltd-Indonesia Kumawa Energy Ltd. | 2 |
| 9 | Kofiau | Offshore Birds Head of West Papua | Consortium Biak Petroleum LLC & Niko Resources (overseas IX) Ltd. | 5 |
| 10 | Cendrawasih | Offshore Cendrawasih bay, West Papua | Consortium Biak Petroleum LLC & Esso Exploration International Ltd. | 5 |
| 11 | Northern Papua | Onshore/Offshore North Papua | Sarmi Papua Asia Oil Ltd. | 1 |
| 12 | Lampung III | Onshore Lampung | PT Harpindo Mitra Kharisma | 1.2 |
| Total | 23.35 | |||