SKK Migas appreciates PSC for exploration performance
Wednesday, May 7 2014 - 07:29 AM WIB
PSCs are divided in six categories, namely black, red, pink, blue green and gold, in terms of their performance in meeting exploration commitment. Included in the black category are those who have only carried out the G&G studies; in the red category are those who have carried out few of their exploration commitment; in the pink category are those who have carried out most of their exploration commitment; in the blue category are those who have fulfilled all their exploration commitment; in the green category are those who have fulfilled all its exploration commitment and made technical discoveries; in the gold category are those who have fulfilled all their exploration commitment and made economic discovery.
The 10 PSCs that received appreciation for their exploration performance last year consist of three of green category and seven of blue category, SKK Migas said in a statement on Wednesday.
?In view of the challenges faced in the oil and gas industry, including licensing obstacles, land overlapping and regulations which do not give a special treatment to investment for exploration, it is a point of pride that there are 10 PSCs who were able to perform that they have received green and blue category awards,? acting Chairman of SKK Migas J. Widjonarko said.
He said the 10 PSCs found 1.25 billion barrels of oil equivalent (bboe) last year. Up to May this year, three PSCs found another 0.183 bboe reserve. In total, 13 PSCs have found 1.44 bboe since last year.
| No | PSC | Working area | Category |
| 1 | Krisenergy Kutei BV. | Kutai | Green |
| 2 | Pasir Petroleum Resources Ltd. | Pasir | Green |
| 3 | North Sokang Energy Ltd. | North Sokang | Green |
| 4 | Awe (Titan) NZ. Ltd. | Titan | Blue |
| 5 | Lundin Baronang B.V | Baronang | Blue |
| 6 | Ranhill Jambi Inc. Pte. Ltd. | Batu Gajah | Blue |
| 7 | Black Gold Cendrawasih LLC | Cendrawasih | Blue |
| 8 | Lundin Gurita B.V | Gurita | Blue |
| 9 | Pearloil (Tachylyte) Ltd | Kerapu | Blue |
| 10 | Lundin South Sokang B.V | South Sokang | Blue |
Editing by Johannes Simbolon