Four Contracts Gross Split Signed Again: Bula Working Area, Salawati, Kepala Burung and Malacca Strait Wednesday, July 11, 2018

  • 2018.07.12 Thursday
  • 18:00

 

 EMR Communications Team

 

 MINISTRY OF ENERGY AND MINERAL RESOURCES

      REPUBLIC OF INDONESIA

          PRESS CONFERENCE

        NUMBER: 0044.Pers / 04 / SJI / 2018

         Date: July 11, 2018

 

Four Contracts Gross Split Signed Again:

Bula Working Areas, Salawati, Kepala Burung and Malacca Strait

 

 

Located at the Office of the Ministry of Energy and Mineral Resources (ESDM) Jakarta, Wednesday (11/7), has signed 4 (four) Gross Split Distribution Contracts ending the contract of cooperation in 2019 and 2020. These four Production Sharing Contracts are Contracts Extension and joint Management between the existing Contractor with Pertamina for a period of 20 years. The Production Sharing Contracts are:

 

1. Production Sharing Contract for Bula Area with Contractor is Kalrez Petroleum (Seram) Ltd as well as Operator. The Bula Existing Production Sharing Contracts currently (existing) will expire on October 31, 2019.

 

2. Production Sharing Contracts of Salawati Working Area with Petrogas Contractor (Island) Ltd. (as well as Operator) and PT Pertamina Hulu Energi Salawati. The existing Salawati Production Sharing Contract (term) will expire on 22 April 2020.

 

3. Production Sharing Contracts of Kepala Burung Working Area with Petrogas Contractor (Basin) Ltd. (as well as Operator) and PT Pertamina Hulu Energi Salawati Basin. The current Production Sharing Contract of the Kepala Burung Working Area will expire on 14 October 2020.

 

4. Production Sharing Contract of Malacca Strait Working Area with EMP Contractor Malacca Strait S.A (as well as Operator) and PT Imbang Tata Alam. Production Sharing Contract The current Malacca Strait Working Area will end on August 4, 2020.

 

Interes participation owned by the Contractors includes 10% Interes Participation to be offered to region owned enterprises (BUMD).

 

The total signature bonus of the 4 (four) Production Sharing Contracts is USD 5.5 million or equivalent to Rp 73.7 billion. While the estimated total value of Investment from the implementation of the work commitment must be the first five years is USD 148.4 million or equivalent to Rp 1.9 trillion (assuming the Rupiah exchange rate in accordance with State Budget (APBN) 2018 is Rp13.400 per US dollar).

The government advised the Contractor to continue to increase the production of oil and natural gas from the Working Area.

             Head of Bureau of Communications, Services

             Public Information and Cooperation,

                            Agung Pribadi

 

For further information please contact:

Head of Communications Bureau, Public Information Services and Cooperation,

Agung Pribadi (08112213555)

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