No exploration activity in 3 blocks after 3 years: SKK Migas
Monday, July 22 2013 - 07:34 AM WIB
By Bernard Loebs
Upstream authority SKK Migas said that up to now no exploration activity has been conducted on Mandala block (Jatim Offshore and Fortune Energy), Karapan block (Jatim Offshore and Amstelco), and Andaman III block (Talisman).
Agus Kurnia and Agung P. Budiono, the Head of Representatives for Java, Bali, Madura and Nusa Tenggara and for Northern Sumatra, respectively, told petromindo.com that the contracts for the three blocks were awarded more than three years ago.
Nugrahani, Head of Exploration Division at SKK Migas, said that generally, PSC Holders that fail to fulfill their firm commitment for the first 3 years are subject to sanction as severe as relinquishment.
Editing by Dadan Wijaksana