The beneficiaries of the deals will be Indonesia's state-run companies PT Perusahaan Gas Negara and PT Perusahaan Listrik Negara.
Under the terms of the contracts, CNOOC will supply PT Perusahaan Listrik Negara's Cilegon power plant in west Java with around 370 trillion BTU of gas for 13 years from 2005 onwards. Santos, on the other hand, will supply around 267 trillion BTU - from 2006 - to PT Perusahaan Gas Negara.
CNOOC supply of gas will come from its south east Sumatra offshore fields, with the deal being worth around US$991.6 million for CNOOC.
