Pertamina studying East Kalimantan PSC?s data room
Monday, June 27 2016 - 10:00 AM WIB
State owned oil and gas firm PT Pertamina (Persero) is studying information available at the data room of East Kalimantan PSC offshore East Kalimantan province which Chevron Indonesia Company (CICo), the operator of the block, plans to return to the government.
?Pertamina is opening the data room,? Djoko Siswanto, Director for the Management of Upstream Activities at the Ministry of Energy and Mineral Resources, told Petromindo.com.
Pertamina?s Senior VP for Business Development Dennie Tampubolon confirmed the firm is reviewing the data room. ?Once the review is complete, we shall submit a proposal to the government,? Dennie said adding based on the permit from the Directorate General of Oil and Gas, Pertamina is given three months to decide whether to take over the block.
PT Saka Energi Indonesia, the upstream arm of IDX-listed state owned gas distributor PT Perusahaan Gas Negara (PGN) Tbk is also approaching the government so that it may also be given permit to enter the data room.
?We are interested in the block,? Saka?s Operational Director Tumbur Parlindungan told Petromindo.
In January of this year, Chevron said it would return the block to the government after the expiry of its contract on the block on Oct, 25, 2018.
East Kalimantan PSC is an old block but is still producing well. It now produces 60-70 mmscfd of gas and around 20,000 bpd of oil. Based on the 2016 Work Program and Budget (WP&B), the block will produce 14,470 bpd of oil this year.
Editing by Johannes Simbolon