Three gas deals signed at opening of IPA conference
Wednesday, May 25 2016 - 02:51 AM WIB
Three gas sales and purchase agreements (GSPAs) were signed on Wednesday by producers and domestic buyers on the sidelines of the opening of the Indonesian Petroleum Association (IPA) conference in Jakarta.
ConocoPhillips (Grissik) Ltd signed a five-year GSPA with fertilizer firm PT Pupuk Sriwidjaja (Pusri) for the supply of 70 mmscfd of gas.
PT Medco E&P Indonesia signed a two-year GSPA with PT Meppo-Gen for the supply of 10-16 bbtud of gas for the Gunung Megang gas-fired power plant in Muara Enim, South Sumatra.
The third GSPA was also signed by PT Medco E&P Indonesia with Perusda Petrogas Ogan Ilir for the supply of 1.3-1.6 bbtud of gas for industries in Ogan Ilir regency, South Sumatra, until December 31, 2019.
The three gas transactions provided the state with a total revenue of US$544.66 million. ?The signing of the GSPAs are concrete prove of the support of the upstream oil and gas industry by prioritizing gas allocation to meet domestic demand,? said Spokesman of upstream authority SKK Migas, Taslim Z. Yunus.
Editing by Reiner Simanjuntak