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JAKARTA (RambuEnergy.com) – Indonesia’s Energy and Mineral Resources Ministry will soon sign new production sharing contracts (PSC) of eight oil and gas blocks, whose contracts are going to expire by the end of this year
The energy ministry is expected to appoint the state energy company PT Pertamina as the operator of the expiry blocks. The new PSC contracts to operate the blocks is expected to be signed this week.
The eight blocks that will expire this year are (1) Sanga-Sanga Block in East Kalimantan, (2) Tuban block in East Java, (3) Ogan Komering Block, (4) Southeast Sumatra Block, (5) North Sumatra Offshore (6) East Kalimantan and (7) Attaka Block, (8) Tengah Block, which will be merged into Mahakam block
In a letter to Pertamina dated March 15, the energy ministry explained the participating interest composition of each block, as follows:
1. Sanga-Sanga Block (existing operator)
Participating Interest Holders:
– Pertamina: 67.5%
– Existing partners (Vico Indonesia) : 22.5%
– BUMD: 10%
Current PI composition:
– Vico Indonesia (Operator): 67.5%
– PT Saka Energi Indonesia: 26.25%
– ENI: 26.25%
– CPC: 20
– Universe Gas and Oil: 4.37%
2. Tuban Block:
Participating Interest Holders:
– Pertamina: 78.75%
– Local government owned company (BUMD): 10%
– Existing PI holder: 11.25%
3. Ogan Komering block
PI Holders:
– Pertamina (operator) : 75%
– Existing partner: 15%
– BUMD: 10%
4. Southeast Sumatera
PI Holders:
– Pertamina 70.55%
– Existing PI holders: 19.45%
– BUMD: 19.45%
5. North Sumatra Offshore
PI Holders:
– Pertamina: 90%
– BUMD: 10%
6. East Kalimantan and Attaka blocks will be merged.
PI Holders:
– Pertamina: 90%
– BUMD: 10%
7. Tengah Block will be merged with Mahakam Block, which is currently operated by Pertamina.
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