Use a crude sharing contract, oil and gas work area, Rp 2,6 T signed

Jakarta – The oil and gas work zone (WK) contract with a shared gross profit sharing system was signed Thursday by the Ministry of Energy and Mineral Resources (ESDM) (29/11/2018). The total value of the investment stands at 183 152 000 USD and the signing bonus at 14 450 000 USD.

The investment value above is equivalent to 2.65 billion rupees while the signing bonus is equivalent to 209 billion rupees. This figure badumes that the exchange rate is 14,500 rupees to one US dollar.

The signed contract consisted of 3 WK extension contracts and one WK exploration contract. WK contracts are extended for 20 years, while exploration contracts are 30 years.

"Alhamdulillah, we should thank God's Almighty today, we witnessed the signing of three redundancies during the WK, plus an exploration during the WK," said the deputy minister. ESDM Arcandra Tahar in his office Thursday (29/11/2018).

First, the WK extension contract includes the WK Tarakan production sharing contract with PT Medco contractor E & P Tarakan, effective January 14, 2022. The value of the investment is estimated after the implementation of the first 5-year defined work commitment (KKP) of 35,500,000 USD and 1,500 USD signing bonus. .000.

SecondThe profit-sharing agreement of WK Coastal Plains and Pekanbaru with contractor PT Bumi Siak Pusako entered into force on August 9, 2022. The value of the investment is estimated from the first KKP over 5 years of 130,415 000 USD and a signing bonus of 10 000 000 USD.

Third, WK Tungkal production sharing contract with oil contractor Montd Tungkal gold, Ltd. and Fuel-X Tungkal Ltd., where Montd's Gold Oil Tungkal, Ltd. acting as the operator. The contract is effective August 26, 2022. The value of the investment is estimated from the implementation of the first five-year KKP of $ 13,237,000 and the signing bonus of 2,450,000. 000 USD.

Fourth, the contract for the WK Banyumas exploration area with contractor PT Minarak Banyumas Gas, a final 4 year commitment of USD 4,000,000 and a signing bonus of USD 500,000.

"We promised to speed up the process, not procrastinate." The minister (Ignasius Jonan) is also in favor of speedy work, it should not be slow, there are those for whom we are pursuing contractors, now we Let's pursue entrepreneurs to work faster, "he added.

(hns / hns)