Ministry of Energy and Mineral Resources Signed 3 Gross Split Contracts Offering Results of Oil and Gas Working Area 2018
By : Hariyanto And Aldo Bella Putra | Tuesday, July 17 2018 - 19:30 IWST

WK Migas
INDUSTRY.co.id - Jakarta - The Ministry of Energy and Resources and Mineral Resources re-signed a contract for the results of Gross Split results of the Working Area (WK) of Oil and Gas in 2018 which was held at the office of the Ministry of Energy and Mineral Resources Jakarta, today, Tuesday (17/7 / 2018).
Quoted from the official website of the Ministry of Energy and Mineral Resources, there is 4 winners, 3 WKs signed today, East Seram Block, East Ganal and Southeast Jambi, while another contract (WK Citarum) was signed on June 7, 2018.
With the signing of the three contracts, to date, the Government has signed PSC Gross Sponsorship contracts of 9 Working Areas (WK) consisting of 5 WK results from 2017 bid, namely Andaman I, Andaman II, Pekawai, West Yamdena and Merak- Lampung and 4 WK results of the tender in 2018.
During the last 3 months, the draft Contract has been completed and the Contractor has also completed the payment obligation of the Signature Bonus, the issuance of the Implementation Guarantee and the handling of legal documents related to the new entity to sign the PSC Gross Split.
The 3rd Wk details are the first East Ganal Work Area; BU / BUT Signing by Eni East Ganal Limited; G & G's Definite Commitment, 1 Exploration Well, Total: US $ 35,350,000; Signed Bonus of US $ 1,500,000. Second Working Area East Seram; BU / BUT Signing by Balam Energy Pte. Ltd; G & G Defined Commitment, 2D 500 km Seismic, Total: US $ 900,000; Bonus Signature US $ 500,000.
Then the last is the Working Area of Southeast Jambi; BU / BUT Signed by Repsol Exploracion Consortium South East Jambi B.V. and MOECO Southeast Jambi B.V .; G & G Defined Commitment, 2D 300 km Seismic, Total: US $ 4,650,000; Bonus Signature US $ 500,000. The total value of the entire Definite Commitment is US $ 40.9 million, while the total value of all signature bonuses to the three contracts is US $ 2,500,000.
Read Also
Today's Industry

Rabu, 13 Januari 2021 - 18:40 WIB
Synopsys Recognised as a Leader in Static Application Security Testing by Independent Research Firm
Synopsys receives highest score among 12 SAST providers in current offering category.

Rabu, 13 Januari 2021 - 16:00 WIB
ZASCHE Handling Rolls Out New Range of Electric Balancers
the E-Balancer is a versatile tool suited for a broad range of heavy-duty industrial applications.

Rabu, 13 Januari 2021 - 15:40 WIB
What is the Cost of Poor Software Quality in the U.S.?
And if you doubt its credibility, or that it applies to software, check out the latest report from the Consortium for Information & Software Quality (CISQ), in partnership with Synopsys, “The…

Jumat, 08 Januari 2021 - 17:35 WIB
DevSecOps: The good, the bad, and the ugly
DevSecOps is the practice of integrating security into every stage of the DevOps pipeline.

Selasa, 29 Desember 2020 - 16:25 WIB
Universal Robots Reaches Industry Milestone with 50,000 Collaborative Robots Sold
Cobot market pioneer Universal Robots (UR) solidified its frontrunner position today by selling the 50,000th UR cobot, which was purchased by a German manufacturer to enable higher productivity…
News Comment