Ministry of Energy and Mineral Resources Announces Winners of Oil and Gas Block auction

By : Hariyanto And Aldo Bella Putra | Thursday, February 01 2018 - 18:00 IWST

INDUSTRY.co.id - Jakarta- The Ministry of Energy and Mineral Resources (ESDM) announces the winners of the auction of Conventional Oil and Gas Working Areas by using a scheme of profit sharing contract for Gross Split, the result of Phase I auction in 2017.
Oil and Gas Working Area (WK) is the first auction using Gross Split scheme. Number of WK offered is 10 (ten) WK, consist of 7 WK through Direct Offer and 3 WK through Regular Auction, based on data collected in Jakarta, Wednesday (31/1/2018)
The WK auction has been started since the end of May 2017 and extended 4 times due to pending the approval of Gross Split Government Tax Regulation (PP).
Up to the deadline for submission of Participation Document dated December 29, 2017, there are 7 Document of Participation for 5 WK which further conducted Opening and Inspection and Final Assessment by the Bidding Team to give the winner a recommendation.
For the winners of direct offer auction, Mubadala Petroleum (SE Asia) Ltd. (Andaman I), consortium of Premier Oil Far East Ltd-KrissEnergy (Andaman II) BV-Mubadala Petroleum (Andaman II JSA) Ltd., PT Tansri Madjid Energy (Merak-Lampung), PT Saka Sepinggan Energy (Pekawai da West Yamdena).
As for regular auctions on Kasuri III, Tongkol, East Tanimbar and Memberamo no winners. Then 5 other unconventional Conventional WKs become Available Work Areas and will be offered back in the next WK Migas supply period.
The fixed commitment investment of these 5 Conventional WKs amounted to 23,575,000 US dollars and a total signature bonus of 3,250,000 US dollars. (Ant)

News Comment

Today's Industry

Launch of OKINO C100, tiny vape with O-Tape Coil technology. (Photo: OKINO Public Relations)

Kamis, 29 September 2022 - 15:38 WIB

OKINO C100, Tiny Vape With O-Tape Coil Technology

The consumption of e-cigarettes in Indonesia continues to increase. The Indonesian Personal Vaporizer Association (APVI) estimates that there are currently 2.2 million e-cigarette (vape) users.…

EH Free Swinging Hinges

Kamis, 29 September 2022 - 12:00 WIB

Southco Introduces Free-Swinging Hinges in New Materials to Meet Demanding, Heavy-Duty Applications

Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of engineered access solutions such as locks, latches, captive fasteners, electronic access solutions and hinges/ positioning…

President Jokowi distributes direct cash assistance in South Buton regency, Southeast Sulawesi province, Tuesday (09/27). (Photo by: BPMI Presidential Secretariat/Laily Rachev)

Rabu, 28 September 2022 - 21:50 WIB

President Jokowi Distributes Assistances in South Buton

President Joko “Jokowi” Widodo Tuesday (09/27) distributed direct cash assistance (BLT) for fuel for beneficiaries of Family Hope Program (PKH) at Batauga post office, South Buton regency,…

President Jokowi at the inspection at PT Wika Bitumen, Buton regency, Southeast Sulawesi province, Tuesday (09/27). (Photo by: BPMI Presidential Secretariat/Laily Rachev)

Rabu, 28 September 2022 - 19:00 WIB

President Jokowi Pushes for Revival of Asphalt Producing Industries in Buton

President Joko “Jokowi” Widodo Tuesday (09/27) expressed hope to Buton regency, Southeast Sulawesi province to maximize its potential so it can re-emerge as an asphalt-manufacturing industrial…

KRAIBURG TPE presents THERMOLAST® R

Rabu, 28 September 2022 - 17:00 WIB

KRAIBURG TPE to campaign in Düsseldorf: The focus is on sustainable products and discussion

To ensure that customers of KRAIBURG TPE always achieve the best result, individual materials solutions are developed for many requested applications. The result: Right in time for the 2022…