PGE signs agreements with Chevron, Star Energy

PT Pertamina Geothermal Energi (PGE) has signed Principles of Agreements (PoA) with Cehvron Geothermal Indonesia (CGI) and Star Energy under which they agree to continue negotiations on possible cooperation to develop several geothermal concessions owned by PGE.

The PoAs were signed at Tuesday at Pertamina?s headquarters in Jakarta by PGE?s President Director Adriansyah, Star Energy?s President Director Rudi Suparman, CGI?s President Director Javier La Rosa, PGE said in a statement.

Under the PoAs, the three companies agreed to continue negotiations on various aspects of cooperation, including financial model and workplan, to develop PGE?s assets. CGI is projected to develop four geothermal concessions, namely Hululais, Tambang Sawah, Sungai Penuh and Semurup. Meanwhile, Star Energy is expected to develop Karaha Unit 1, 2 and 3 and Binary.

Star Energy and CGI has partnered with PGE in developing the latter?s concessions. Star Energy is PGE?s joint operation contract (JOC) partner in developing Wayang Windu, while CGI is PGE?s JOC partner in developing Gunung Salak & Darajat. The three concessions have been producing electricity.

Editing by Johannes Simbolon