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Pertamina officially starts operating Ogan Komering block

JAKARTA (RambuEnergy.c0m) – Indonesian state-owned energy company PT Pertamina has officially become the operator of Ogan Komering Block in South Sumatra from May 20, 2018, following the signing of production sharing contract (PSC) with the energy ministry on April 20, the company said.

Previously, the block was operated by PT Pertamina Hulu Energi (PHE), a subsidiary of Pertamina, in partnership with Jadestone Energy (Ogan Komering (Ltd. The previous PSC contract has expired on Feb. 28, 2018.

Unlike the previous contract, the block’s contract is based on gross-split PSC scheme, instead of PSC cost recovery, in which all costs are under the responsibility of the operator.

In addition, Pertamina has also officially become the operator of Tuban block in East Java, said PGE President Director Gunung Sardjono Hadi in a statement.

In 2018, Ogan Komering block is projected to produce 1,950 barrels of oil per day and 8.21 MMSCFD of gas (gross). In order to maintain production level, PHE has set plans to carry out well services, improve facilities and bring some wells to production phase.

Pertamina is also in the process of transfer of operatorship of Southeast Sumatra (SES) working area and North Sumatra Offshore (NSO)  as well as Norh SUmatra Blcok B (NSB).

 

Followings are the PSCs that are being handed over to Pertamina subsidiaries, which are all based on gross split schemes:

No Working Area/Block Contractor Split Investment Commitment in 1st 3 Years Signature Bonus
Govt PSC Holder
1 TUBAN PT Pertamina Hulu Energi Tuban East Java Oil: 44%

Gas: 39%

Oil: 56%

Gas: 61%

US$42.25 million Rp5 million
2 OGAN KOMERING PT Pertamina Hulu Energi Ogan Komering Oil: 46%

Gas: 41%

Oil: 54%

Gas: 59%

US$23.3 million US$5 million
3 SANGA SANGA PT Pertamina Hulu Sanga-Sanga Oil: 51%

Gas: 54%

Oil: 49%

Gas:54%

US$237 million US$10 million
4 SOUTHEAST SUMATRA PT Pertamina Hulu Energi Offshore Souteast Sumatera Oil: 31.5%

Gas: 26.5%

Oil: 68.5%

Gas: 73.5%

US$130 million US$10 million
5 NORTH SUMATRA OFFSHORE PT Pertamina Hulu Energi NSO Minyak: 35,5%

Gas: 30,5%

 

Minyak: 64,5%

Gas: 69,5%

 

US$18.5 million US$1.5 million
6. EAST KALIMANTAN & ATTAKA PT Pertamina Hulu Kalimantan Timur Minyak: 39%

Gas: 34%

 

Minyak: 61%

Gas: 66%

 

US$79.3 million US$1 million
7 TENGAH

(Mahakam merged with Tengah WK)

 

PT Pertamina Hulu Mahakam US$26.1 million US$1 million
Total US$556.45 million US$33.5 million

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