KKKS Still Evaluates Its Participation At Auction 15 Oil and Gas Blocks

INDUSTRY.co.id - Jakarta - The Cooperation Contract Contractor (KKKS) will still evaluate its participation in the 15-block oil and gas auction that has been offered since last May 2017.  Whereas, the Regulation of the Minister of Energy and Mineral Resources (ESDM) regarding gross split has been revised some time ago.

Erwin Maryoto, Vice President of Public and Government Affairs of ExxonMobil Indonesia, said it appreciated the government's efforts to revise the gross split scheme. "The government is listening to our inputs, it will be very interesting," Erwin said last week.

To that end, ExxonMobil continues to evaluate the oil and gas blocks offered. "We see which one fits our portfolio, ExxonMobil has certain criteria, not just economical, but look at where the oil or gas focus is," he said.

Meanwhile, President Director of Indonesian Petroleum Association (IPA) Christina Verchere said, investment decisions in upstream oil and gas Indonesia will be submitted to each oil and gas company. "We look forward to the best for members who follow this year's auction as well as contract renewal negotiations," Christina said.

President and General Manager of Total EP Indonesia Arividya Novianto said it is still evaluating the auction of oil and gas blocks this year. ESDM Ministry itself finally on Friday (8/9) gave the blessing for Total EP gets 39% stake Mahakam. In the near future, Total EP will get an official letter about it.