The signings include 15 PSCs, one PSC extension, one Pertamina petroleum contract, 16 gas/LPG sales agreements and 11 special rights on gas transportation through pipelines.
The PSC contracts alone are worth around US$190.14 million (for three-year’s worth of exploration commitments) in total and some US$20 million in signature bonus.
“The contractors have committed for exploration spending of around US$200 million. The signing of production sharing contracts today will boost Indonesian oil production in future and open job opportunities to our people,” said Indonesia’s mines and energy minister Purnomo Yusgiantoro.
But awarding East Ambalat to Unocal Corp could prove to be a problem due to overlapping claims in the Sulawesi Sea block by Indonesia and Malaysia.
Anadarko Petroleum Corp was awarded the Madura III block, Petronas Carigali won the Madura IV block and ENI won the Bulungan block.
Other companies to win contracts include PT Waropen Perkasa, PT Medco E&P, Transworld Exploration Ltd, PT Tropik Energi Pandan, ALTAR Sociedade de Investimento Imobiliario SA, PT Sele Raya, PT Kutai Etam Petroleum and INPAROL Pte Ltd amongst others.
PT Energy Mega Persada won a PSC extension for the Kangean block. Other contracts were signed with local and foreign firms for piped gas to power plants and industrial facilties.
