Petronas, Petrogas to sign gas sale contract today
Thursday, April 12 2012 - 02:50 AM WIB
Petronas Carigali Bhd is scheduled to sign a sale and purchase contract of gas from its Bukit Tua field in Ketapang block with PT Petrogas Jatim Utama today.
"The source of the gas will be from Bukit Tua field with a principle of ?as is?. Gas delivery will be within five years,? Upstream Authority BPMIGAS Operational Deputy Rudi Rubiandini told Petromindo.com in Jakarta on Thursday.
He said that estimated volume of gas to be delivered in first year would be 12.25 mmscfd, in 2nd year 29 mmscfd, in 3nd year 50.81 mmscfd, in 4th year 18.70 mmscfd , and in fifth year 8.65 mmscfd.
According to him, the delivery will be started no later than 30 months after the gas sale and purchase agreement made effective for the period of five years. The point of delivery will be the location of Onshore Receiving Facilities (ORF) in Maspion Industrial Zone of Gresik, East Java.
The gas price is US$5.50 per mmbtu with an escalation of 3 percent per year. The gas supply is to meet the requirement for power plants and other industries in East Java. ?We hope that it will drive up local economy as well as our national economy,? he said.
Editing by Benget Besalicto Tnb.