US$10 billion energy projects, deals signed and inaugurated

The President inaugurated the operation of new oil and gas wells in Oyong field controlled by Australian firm Santos Limited and in Ujung Pangkah field controlled by American firm Hess Corporation.

According to the Ministry of Energy and Mineral Resources, Ujung Pangkah now produces 100 MMCFD of gas and 1,800 barrels per day of condensate. The firm will invest a total of $930 million to develop the field, including $230 million in the current Phase I development and $700 million the Phase II development. The Phase I development will boost Ujung Pangkah?s oil and condensate output to 25,000 bpd and enable it to produce LPG as much as 6,000 barrels of oil equivalent per day in 2009.

Meanwhile, Oyong field now produces between 8,000 and 10,000 barrels per day of oil and will produce 60 MMCFD of gas in 2009. Santos?s spending for the development of the field will total $212.6 million, including $16.4 million in capital expenditure and $196.2 million in operation expenditure.

During the ceremony, Susilo together with Minister of Energy and Mineral Resources Purnomo Yusgiantoro also witnessed the signing of 12 gas sales and purchase agreements. The 12 agreements are as follows:

Total

Susilo also witnessed the signing of 10 power plant projects, consisting of five independent power producer (IPP) projects and five ?10,000 MW-crash program? power projects. The power projects are as folows: