PT Pertamina stated that it is ready to develop the East Natuna Block immediately. Exxon Mobil as a partner has also been approved to discuss the plan to develop the East Natuna block.
the East Natuna block
Pertamina's Upstream Director Syamsu Alam said, since being asked to sign the East Natuna Block production sharing / PSC contract since last August, the company is actually ready. This is because Pertamina's activities in working on the East Natuna Block will support efforts to strengthen Indonesia's resilience in the border areas. Pertamina must wait for its two partners, Exxon Mobil and PTT Thailand, to obtain approval from the company office.
Exxon has already asked for approval from its head office, it looks like they already have a green light from the head office to talk in detail about East Natuna. Syamsu said that his partner's steps could be understood. This is because the development of the East Natuna Block requires a very large investment.
PTT Thailand
Exxon Mobil and PTT Thailand will definitely take a look at their global portfolios. In addition, they will definitely consider the Fiscal scheme offered by Indonesia. Yesterday, the concern was the term PSC, then Government Regulation number 79/2010. He hopes that the East Natuna Block PSC can be signed soon. Pertamina, if asked to sign a contract this November, is ready.
It's just that, whether the East Natuna Block contract is signed or not, it all depends on the Ministry of Energy and Mineral Resources, which leads the process. Regarding the distribution of participating shares between Pertamina and its partners, Syamsu said that it would be discussed after the PSC was signed.
This is because the distribution of participating shares must consider the profit sharing or split between the state and the contractors. Pertamina assesses that the 40% profit sharing offered by the government is very economical. The East Natuna Block development is planned to be carried out in stages.
According to the plan, in the first phase, the development of the block on the Indonesian border will start from the work on the AP structure which has the dominant oil reserves. In the next step, a gas-dominant AL structure with a carbon dioxide content of 72% will be worked out.
Currently, Pertamina and partners are completing a technology and market review / TMR for gas block production at the Indonesian border. Later, the fiscal for gas development will be based on the results of the TMR which will be completed in 2017.
Investor Daily, Page-9, Thursday, Nov 10, 2016
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