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)

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