Sugih negotiates to supply gas to Bumi Siak Pusako

By Bernard Loebs

IDX-listed energy firm PT Sugih Energy Tbk plans to supply gas from Selat Panjang PSC in Siak regency, Riau province to the power plant owned by BOB BOB Bumi Siak Pusako (BSP).

Sugih?s President Director Riyanto Soewarno said BSP needs 8.5 mmscfd of gas and SKK MIgas along with the Directorate General of Oil and Gas have approved the plan.

?We are now negotiating the price,? he said

Recently, the operator of the block managed to supply gas to PLTMG Rawa Minyak gas engine power plant in Siak by state owned electricity firm PT Perusahaan Listrik Negara (PLN) last week.

Based on its Plan of Development (PoD), Selat Panjang is able to produce up to 24 mmscfd.

The Selat Panjang PSC is operated by Petroselat, a joint operation company formed by PT Petronusa Bumibakti (51 percent), PetroChina (45 percent), and International Mineral Resources Inc. (IMRI) (4 percent). In July 2003, IDX-listed PT Sugih Energy Tbk. acquired 55 percent participating interest in the PSC through the purchase of Petronusa and IMRI.

Editing by Johannes Simbolon