CONTRACT SIGNING 10 UPSTREAM OIL AND GAS INVESTMENT
December 20th, 2011
PRESS RELEASE NUMBER: 80/HUMAS KESDM/2011
In an effort to enhance the exploration and exploitation activities and aimed to increase the production of Oil and Gas nationwide, as of today Monday (19/12) housed at the Hall of the Ministry of Energy and Mineral Resources (ESDM), The Minister Jero Wacik on behalf of the government witness at a time agreed the signing of 13 cooperation contracts between BP Migas and the Contractor, which is the result of the Regular Auction of Oil and Gas Working Area Phase I in 2011, Direct Proposal Phase II in 2011, and Direct Proposal Coal Bed Methane in 2011.
A. 10 (ten) Contract Work Area Oil and Gas, which are:
a. 4 new KKS regular auction results of Phase I in 2011 are as follows:
| NO |
BLOCK |
KONTRAKTOR |
| 1 | OFFSHORE TIMOR SEA I | HESS (INDONESIA- V ) LIMITED |
| 2 | WEST ARU I | BP WEST ARU I LTD. |
| 3 | WEST ARU II | BP WEST ARU II LTD |
| 4 | HALMAHERA II | KONSORSIUM STATOIL INDONESIA HALMAHERA II AS – NIKO RESOURCES (HALMAHERA II) LIMITED |
b. 6 new KKS Offer Auction Direct results of Phase II in 2011 are as follows
| NO | BLOCK | KONTRAKTOR |
| 1 | KALYANI | EURORICH GROUP LTD. |
| 2 | SOUTH BATURAJA | PT ANUGERAH MUTIARA SENTOSA |
| 3 | NORTH BATURAJA | PT TERRA GLOBAL VESTAL BATURAJA |
| 4 | KUALA PAMBUANG | PT MENTARI PAMBUANG INTERNASIONAL |
| 5 | TANJUNG ARU | KONSORSIUM KRISENERGY (TANJUNG ARU) B.V – NEON ENERGY INDONESIA PTY LTD – NATUNA VENTURES PTE LTD |
| 6 | SOUTH EAST SERAM | NIKO RESOURCES (SOUTH EAST SERAM) LTD |
Firmed Commitment WK GMB exploration of three working areas for the first 3 years of exploration in G & G studies of U.S. $ 1.8 million, 6 coreholes of U.S. $ 6 million, 6 drilling exploration wells amounting to U.S. $ 7.5 million, and 3 Production test wells for U.S. $ 1.5 million, bringing the total investment amounted to U.S. $ 16.8 million. While the signature bonus to be received directly by the Government amounting to U.S. $ 3.5 million.
Based on the above, then the overall total that will be signed KKS is 13 (thirteen) Oil and Gas Field Work Area. The total investment commitment is U.S. $ 119.45 million and a signature bonus of U.S. $ 29.35 million.
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