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

Dr Paul Gardner-Stephen, Senior Lecturer, College of Science and Engineering, Flinders University (Photo by ICT Days)

Kamis, 24 September 2020 - 15:15 WIB

NBN Co to Spend $3bn Upgrading Half of FTTN Network to Full Fibre

In particular, the original Fibre-To-The-Premises (FTTP) plan had several key advantages that this announcement is not able to solve.

Rena Chua, Bug Bounty Advisor at HackerOne (Photo by Linkedin)

Kamis, 24 September 2020 - 14:15 WIB

How COVID-19 Is Impacting Security

With this accelerated pace of digital transformation, CISOs had to quickly facilitate new needs — while ensuring the security of existing systems and newly-acquired collaboration tools.

Ilustration Asia-Pacific’s First and Largest Collaborative Robots Virtual Expo (Photo by Universal Robots)

Selasa, 22 September 2020 - 17:00 WIB

Universal Robots Hosts First Virtual Collaborative Robots Exhibition & Conference in Asia-Pacific

Gain actionable insights on flexible and cost-effective automation solutions addressing post-pandemic ROI and safety challenges for small & medium businesses.

Published BSIMM11, The Latest Version of The BSIMM (Photo by EEJournal)

Senin, 21 September 2020 - 18:30 WIB

Synopsys Publishes BSIMM11 Study Highlighting Fundamental Shifts in Software Security

BSIMM11 reflects the software security practices observed across 130 firms from multiple industry verticals including financial services, FinTech, independent software vendors, cloud, health…

New Cloud-Based Technology That Delivers Secure Remote Access (Photo by News Break)

Senin, 21 September 2020 - 17:15 WIB

Check Point Software Technologies Redefines Secure Remote Access for Enterprises

This technology will integrate with Check Point´s Infinity architecture, and become the easiest and most secure solution for enterprises need to enable employees´ secure remote access to any…