Update 1: $908m gas sales agreements signed at IPA Conference
Tuesday, May 18 2010 - 07:10 AM WIB
Eight gas sales and purchase agreements worth US$908.7 million were signed on Tuesday on the sidelines of the 34th IPA (Indonesian Petroleum Association) Convention and Exhibition.
"The eight contracts have a combined value of US$908.7 million or around Rp 8.5 trillion," Agus Haryono, spokesman for oil and gas upstream regulatory body BPMIGAS, said.
He said the contracts commit the sellers to supply a total volume of 177,573 billion British thermal unit (BBTU) to buyers who will use it to meet the fuel needs of domestic manufacturers, to generate electricity and to boost oil production. "Three contracts that were signed by regional government-owned firms as buyers. They will use the gas to meet the needs of industries in their respective areas and, as such, boost economic development there," he said.
Also during the conference, the government officially signed contracts with investors that have been declared winners of the oil and gas blocks offered in the Round Two 2009 Oil and Gas Block tender. A total of 14 blocks were awarded to the investors, including 11 offered through direct offer mechanism and 3 through regular tender mechanism. (Godang/Alex)
| No | Buyer | Appointed Seller | Producer | Form of Agreement | Length / Start? of Contract | Flow Rate (BBTUD) | Volume Total(BBTU) | Contract Value (Million US$) |
| 1 | Perusahaan Daerah Pertambangan dan Energi (BUMD S. Sumatra) | PT Pertamina Hulu Energi Jambi Merang, Talisman (Jambi Merang) Ltd., Pacific Oil & Gas (Jambi merang) Ltd | JOB Pertamina - Talisman Jambi Merang | HOA | 9/2011 | 5 - 15 | 49,305 | 286.55 |
| 2 | PT Pembangunan Kota Batam (BUMD Batam) | PT Pertamina Hulu Energi Jambi Merang, Talisman (Jambi Merang) Ltd., Pacific Oil & Gas (Jambi merang) Ltd | JOB Pertamina - Talisman Jambi Merang | HOA | 9/2011 | 8 - 20 | 65,740 | 370.90 |
| 3 | PT Gresik Migas (BUMD? Gresik Regency) | Kodeco Energy Co. Ltd., CNOOC Madura Ltd., Pertamina Hulu Energi W. Madura Offshore | Kodeco Energy Co. Ltd., CNOOC Madura Ltd., Pertamina Hulu W. Madura Offshore | GSSA | 5/2011 | 17 | 31,025 | 175.14 |
| 4 | Henrinson Iriana | PetroChina International Bermuda | PetroChina International Bermuda | Amendment GSSA | 1/2010 | 1 | 365 | 1.16 |
| 5 | Chevron Pacific Indonesia | PT Pertamina Hulu Energi Jambi Merang, Talisman (Jambi Merang) Ltd., Pacific Oil? Gas (Jambi merang) Ltd. | JOB Pertamina - Talisman Jambi Merang | HOA | 1/2011 | 22 | 8,030 | 52.19 |
| 6 | PT Perusahaan Gas Negara (Persero) Tbk. | PT Pertamina (Persero) | PHE ONWJ | Amendment GSSA | 1/2010 | 15 - 12 | 3,033 | 17.82 |
| 7 | PT Perusahaan Gas Negara (Persero) Tbk. | PT Pertamina (Persero) | PHE ONWJ | Gas Sales and Supply Agreement (GSSA) | 1/2010 | 15 - 12 | - | - |
| 8 | Consortium Pertamina Gas and PT Medco Gas | JOB Pertamina - Medco Simenggaris | JOB Pertamina - Medco Simenggaris | Amendment GSSA | 1/2012 | 5 | 20,075 | 4.95 |
Total |
177,573 | 908.7 | ||||||
Note: HOA: Head of Agreement; GSSA: Gas Sales and Supply Agreement |
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