The Ministry of Energy and Mineral Resources (ESDM) again plans to sign a cooperation contract, aka production sharing contract (PSC) for the East Natuna Block, which was canceled last September 2016.
the East Natuna Block
Contract certainty must be obtained immediately so that the block development can be carried out immediately. Single, Director of Upstream Oil and Gas Development of the Ministry of Energy and Mineral Resources, said the signing of the PSC could be done after the East Natuna consortium member answered the PSC terms and conditions offer from the government.
The consortium members are PT Pertamina, ExxonMobil Indonesia and PTT Exploration and Production PCI (PTTEP). Exxon gave an answer at the end of November because it wanted to consult with its headquarters, which will come here next week.
PTTEP Thailand
At present, ExxonMobil has not yet received a contract offered by the government. Exxon will conduct a Comprehensive Study by completing Technology Market Review (TMR) in the East Natuna Block.
"ExxonMobil asks for the first year of study, seismic acquisition, the oil may be drilling in 2017," Tunggal said.
But the government objected to the request. The problem is that the government wants to accelerate the development of the East Natuna Block. Another reason for ExxonMobil's objection is the question of the value of the signature bonus paid to the government.
"The signature bonus is calculated, at least 1% of the reserve. While the reserve is calculated by ExxonMobil," said Tunggal.
Wianda Pusponegoro
Wianda Pusponegoro, Pertamina Vice President of Communication said, the consortium members had accelerated so that the East Natuna Block could be developed.
"We are ready, but there are other facilities that require investment now," Wianda said.
In addition, Pertamina will accelerate the study results from the beginning of the end of 2017 to the end of 2016.
Kontan, Page-14, Saturday, Oct 15, 2016
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