Four Gross Split Contracts Signed Again

By : Hariyanto And Aldo Bella Putra | Wednesday, July 11 2018 - 18:30 IWST

Ilustrasi Migas (ist)
Ilustrasi Migas (ist)

INDUSTRY.co.id - Jakarta - The government through the Ministry of Energy and Mineral Resources (ESDM) again signed four Gross Split Distribution Contracts which ended its cooperation contracts in 2019 and 2020 on Wednesday (11/7/2018) at the Office of the Ministry of Energy and Mineral Resources.

According to information obtained from the official website of the Ministry of Energy and Mineral Resources, these four Production Sharing Contracts are an extension contract and joint management between the existing contractors with Pertamina for a period of 20 years.

The four Production Sharing Contracts are, among others, the Production Sharing Contract of the Bula Area with the Contractor is Kalrez Petroleum (Seram) Ltd. who at the same time as the Operator. The Bula Existing Production Sharing Contracts currently (existing) will expire on October 31, 2019.

Then, Production Shares Contract of Salawati Working Area with Petrogas Contractor (Island) Ltd. (as well as Operator) and PT Pertamina Hulu Energi Salawati. The existing Salawati Production Sharing Contract (term) will expire on 22 April 2020.

Furthermore, the Profit Sharing Contract of the Bird's Head Working Area with Petrogas Contractor (Basin) Ltd. (as well as Operator) and PT Pertamina Hulu Energi Salawati Basin. The current Production Sharing Contract of the Bird's Head Working Area will expire on 14 October 2020.

Finally, Production Sharing Contract of Malacca Strait Working Area with EMP Contractor Malacca Strait S.A (as well as Operator) and PT Imbang Tata Alam. Production Sharing Contract the current Malacca Strait Working Area will end on August 4, 2020.

Interest participation owned by the Contractors includes 10% Interest Participation to be offered to BUMD.

The total signature bonus of 4 (four) Production Sharing Contracts is US $ 5.5 million or equivalent to Rp 73.7 billion.

While the estimated total investment value of the implementation of the first five-year commitment must be US $ 148.4 million or equivalent to Rp 1.9 trillion (assuming the Rupiah exchange rate in accordance with APBN 2018 is Rp13.400 per US dollar).

The Government also advised the Contractor, in order to continue to increase the production of oil and natural gas from the Working Area.

News Comment

Today's Industry

Business Email Compromise (BEC)

Kamis, 04 Juni 2020 - 15:30 WIB

Driving The Cyber Crime Pandemic

Business Email Compromise (BEC) attacks typically began with hacking or spoofing email accounts of CEOs or CFOs of businesses, and then requesting fund transfers to accounts controlled by the…

Paul Martinkovic, JERDE Chief Executive Officer, Named One of Los Angeles’ Most Influential People by the LA Business Journal

Rabu, 03 Juni 2020 - 15:30 WIB

JERDE CEO Paul Martinkovic Named One of Los Angeles’ Most Influential People by the LA Business Journal

Paul Martinkovic, Chief Executive Officer of JERDE (The Jerde Partnership), an iconic and internationally renowned architecture and urban planning studio headquartered in Downtown Los Angeles,…

Reaching US$100 Million in lifetime bounties

Rabu, 03 Juni 2020 - 12:30 WIB

Thanks for Being Part of The Journey to US$100 Million in Bounties

Reaching US$100 Million in lifetime bounties paid reminded us of how much we appreciate everyone who has decided to join us on this journey — hackers, coworkers, customers, investors, and…

Major Version Update of its Advanced CAD/CAM Nesting Software

Selasa, 02 Juni 2020 - 17:45 WIB

Hypertherm Announces Release of ProNest 2021

Hypertherm, a U.S. based manufacturer of industrial cutting systems and software, today announced the release of ProNest 2021, a major version update of its advanced CAD/CAM nesting software…

Synopsys Software

Senin, 01 Juni 2020 - 12:00 WIB

Drop The Knife and Back Away from The AppSec Budget

These days, the digital version of water purification is software security testing. Software powers the applications that interact with your internal assets and your customers’ personal and…