East Kalimantan officially receives 10% participating interest in Mahakam Block

Related Articles

Ophir Indonesia to launch 3D survey in Bangkanai

March 1, 2016

President Joko Widodo says decision on Block Masela to be made in 2018

February 29, 2016

Oil production of Cepu block in East Java approaching peak production

February 27, 2016

JAKARTA (rambuenergy.com) – East Kalimantan provincial government has officially received 10 percent participating interest in the Mahakam Block. The interested was handed over by Director General for Upstream Oil and Gas at the Energy and Mineral Resources Ministry (ESDM) I Gusti Nyoman Wiratmadja on Tuesday (Oct. 6) to the East Kalimantan Governor Awang Faroek Ishak.

The 10 percent interest is part of the 70 percent of participating interest to be handed to state energy company PT Pertamina. The remaining 30 percent will be owned by Total E&P Indonesie and Inpex.

The Total E&P Indonesie’s contract to operate Mahakam Block will expire in 2017.

It is not clear yet how East Kalimantan province would finance the 10 percent interest allocated to the East Kalimantan local governments. (*)