Assessed Easy Investor, PetroChina Appreciation Schemes Gross Split

By : Hariyanto And Aldo Bella Putra | Thursday, January 11 2018 - 21:30 IWST

Ilustrasi Migas (ist)
Ilustrasi Migas (ist)

INDUSTRY.co.id - Jakarta - PetroChina's oil and gas company, PetroChina, has expressed appreciation for the implementation of the "Gross Split" revenue sharing scheme that facilitates investors.

"The 'Gross Split' scheme provides a flexible way for investors to develop their calculations, I think this is interesting for the energy investment climate in Indonesia," said PetroChina Gong Bencai President in Jakarta, Wednesday (10/1/2018).

The parent company of PetroChina, CNPC still considers Indonesia as one of the main investment destinations for the energy sector. The Chinese government last year launched the One Road Belt One Initiative, to build relationships and cooperation between European and Asian countries, including Indonesia.

Related to that, PetroChina will conduct an extensive consultation on operations and cooperation in Indonesia. Over the years, Chinese investors have the full support of the government.

"We have built a win-win situation through our operations, we are aware that the Government in Indonesia is very concerned about the development of the energy sector, we are here to participate in any way, especially in exploration and production," he said.

In 2017, in an effort to increase the production of Jabung Block, Jambi, PetroChina's largest operating block, PetroChina has implemented several technologies. With that result, it has managed to increase daily average production to nearly 55,000 BOEPD.

Just like in other places Jabung Block production is naturally decreased due to old oil fields. "Therefore, we must work smart, while reducing operating costs. After some experiments, we finally managed to do the maintenance project without turning off the Betara Gas Plant." he said.

The Ministry of EMR stated that the scheme of "Gross Split" production sharing contract for five oil and gas blocks is still in demand by investors throughout 2017.

"The Gross Split scheme is still in demand by investors, even there are five oil and gas blocks reaching agreement," said Secretary General of the Ministry of Energy and Mineral Resources (ESDM) Ego Syahrial.

The five blocks are Andaman I, Andaman II, Pekawai, West Yamdena and Merak-Lampung which have been auctioned and sold in 2017.

Ego said the old cost recovery scheme in 2015 and 2016 precisely no one sells, on the auction of conventional oil and gas blocks.

The auction offered for conventional oil and gas blocks throughout 2017 was recorded at 10 blocks of oil and gas and the five, or only 50% of the target. (ant)

News Comment

Today's Industry

Images By : Freepik

Sabtu, 14 September 2024 - 16:56 WIB

Essential Tips for Choosing Personal Health Insurance in the US

Choosing the right health insurance plan in the United States can be a complex task, especially with the variety of options available and the ever-changing landscape of healthcare policy. Here…

Images By : Freepik

Sabtu, 14 September 2024 - 16:53 WIB

The Top 10 Insurance Companies in the US for 2024

In the ever-evolving landscape of insurance, selecting the right company can significantly impact your financial security and peace of mind.

Images By : Freepik

Jumat, 13 September 2024 - 15:37 WIB

Why Airbnb Become Popular in 2024?

Airbnb fosters a more interactive experience between hosts and guests. Through direct messaging, guests can inquire about specific details, negotiate pricing, or clarify expectations, which…

Flag of the United Nations Organization.

Kamis, 15 Agustus 2024 - 14:26 WIB

Modena Officially Becomes a Member of the UN Global Compact

Commited to transforming towards sustainable business practices, Modena the global home appliance established over 60 years ago in Italy, officially became a member of the UN Globe Compact (UNGC)…

Totolink outlet. (Photo: Public Relation of Totolink)

Kamis, 11 Juli 2024 - 22:08 WIB

Totolink Strengthens Commitment to Innovative and Reliable Network Solutions for Indonesia

Marking a strategic step, Totolink Indonesia proudly announces the enhancement of its head office in Jakarta, located at Harco Mangga Dua Blok E No.28, Sawah Besar, Central Jakarta.