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
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.

News Comment

Today's Industry

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…

PT Sariguna Primatirta Tbk (Tanobel Group)

Jumat, 13 Mei 2022 - 15:45 WIB

Demand Increases, CLEO Recorded IDR307.7 Billion Sales in Q1-2022

PT Sariguna Primatirta Tbk (Tanobel Group), a public company and manufacturer of Bottled Drinking Water (AMDK) with the IDX ticker code: CLEO: IJ, recorded a 30% increase in sales reaching IDR307.7…

TopWorx DX PST with HART 7 monitors and tests valve assemblies, providing detailed data and diagnostics and enabling the digital transformation of process applications.

Jumat, 13 Mei 2022 - 15:15 WIB

Emerson’s New Emergency Shutdown Discrete Valve Controller Improves Safety, Uptime in Hazardous Applications

Emerson introduced the TopWorxTM DX PST with HART® 7. Units provide valuable valve data and diagnostic information, enabling the digital transformation of process applications.

PT Buyung Poetra Sembada Tbk (“HOKI”)

Kamis, 12 Mei 2022 - 15:26 WIB

HOKI Launches Another New Product

PT Buyung Poetra Sembada Tbk (“HOKI”), a Public Company which produces quality rice under the “Topi Koki” and “HOKI” brands, continues to innovate by re- launching new products.…

Rockwell Automation Inc. /obe.wisc.edu

Kamis, 12 Mei 2022 - 14:19 WIB

Rockwell Automation Releases New, Highly Customizable Industrial Monitors

Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced the release of a new line of industrial monitors…