Megawati to inaugurate signing of 15 oil, gas contracts

President Megawati Soekarnoputri will on Jan. 16 inaugurate 15 oil and gas production sharing contracts signed in 2003, a government official said Tuesday.

The inauguration ceremony will be held in Bogor, West Java, and will be attended by stakeholders of the country?s oil and gas sector, Luluk Sumiarso, secretary general of the Ministry of Energy and Mineral Resources, told reporters.

The government and oil and contractors signed nine production sharing contracts last October, and another six contracts last month.

The nine contracts were for the development of Merangin I block, which was awarded to Medco Energi International; Merangin II block (PT Sele Raya); Bulu block (Sebana Ltd); North East Madura I block (consortium of KNOC Nemone Ltd, PetroVietnam Investment and Development Company (PIDC) and SK Corporation); North East Madura II block (consortium of KNOC Nemtwo Ltd, PIDC); South Madura block (PT Eksindo South Madura; North Bali I block (Santos Pty. Ltd of Australia); Tarakan block (Provident Energy Indonesia LLC); and Rembang block (Orna International Ltd).

Meanwhile, the six contracts were for Palmerah block (Tately NV of Malaysia); Bangkanai block (Elnusa Holding); Bontang block (Eksindo Petroleum); West Salawati block (Pacific East Asia Resources Limited of Singapore); Biliton block (PT Mitra Archipelago Investment); and Halmahera block (PT Tri Vicindo). (godang)