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

Presiden Jokowi (Foto Setkab)

Minggu, 19 Agustus 2018 - 23:25 WIB

President Jokowi: 2018 Asian Games Become an Important Moment of Peace

President Joko Widodo (Jokowi) received an honorary visit from the Prime Minister (PM) of South Korea (South Korea) Lee Nak-Yon and Deputy Prime Minister of North Korea (North Korea) Ri Ryong…

SOE Minister Rini Soemarno

Minggu, 19 Agustus 2018 - 23:22 WIB

Bogor Station Should Be Revitalized Immediately

SOE Minister Rini Soemarno wants revitalization of the Bogor Station to include additional parking spaces and other facilities that can be started this year.

Illustration of Infrastructure Development (Ist)

Minggu, 19 Agustus 2018 - 23:18 WIB

Entikong Border Infrastructure Development Increases Economic Movements

Ministry of Public Works and Public Housing (PUPR) has completed the construction of phase one of the 7th National Cross-border Post (PLBN). At present, the Ministry of Public Works and Public…

Jamkrindo

Sabtu, 18 Agustus 2018 - 23:30 WIB

Thousands of People Enliven Jamkrindo Healthy Walk

Gorontalo - Thousands of people enliven the 5 kilometer healthy walk to commemorate the 73rd Anniversary of the Proclamation of Independence of the Republic of Indonesia held by Perum Jamkrindo…

Dirut BTN Maryono (Fot Rizki Meirino)

Sabtu, 18 Agustus 2018 - 23:00 WIB

The economy starts to stretch, Bank BTN is ready to expand in Bengkulu

Jakarta - PT Bank Tabungan Negara Tbk (BBTN) or Bank BTN is ready to expand in Bengkulu province as economic growth begins to wriggle in the area because the demand for subsidized housing loans…