Three companies likely to win condensate, crude tenders
Tuesday, July 20 2004 - 08:14 PM WIB
Upstream oil and gas authority would likely award 625,000 barrels per month liquids tender to three foreign companies, who are the highest bidders for each category, a BP Migas source said.
The source said that 250,000 bbls-275, 000 bbls per month Senipah condensate would likely be awarded to European trading group Vitol, which offered US$1 per bbl premium above Indonesian Crude price.
The 200,000 bbls Duri crude would be awarded to Japan tradinghouse Mitsui Corp., which offered $1.2 per barrel premium, while 150,000 bbls Cinta crude would likely go to Goldmanor, the source who asked for anonymity told Petromindo.Com late Tuesday.
All the tenders are for August 2004-January 2005 liftings.
A BP Migas official earlier said the tender winners would formally be announced later next week. (godang)