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Operation Cooperation Pertamina EP Batch II |
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 Pertamina confirmed that 5 Exploration blocks of Pertamina EP being offered in KSO Operation Cooperation scheme August 2009 bid, which consist of: North Rantau Deep, South Rantau Deep (North Sumatera), Pemalang (Central Java), South Tuban (East Java) and South Klamono (Papua). Furthermore, the 2 Production KSO fields being bid are: Tangai-Sukananti and Loyak-Talanggula, both are located in South Sumatera.
Manager of Public Relations of Pertamina EP, Mr. M. Harun said in press conference that KSO Bidding Batch 2 is open from August 24th – September 18th, 2009. It covers the info memo access, administrative documents submission, and data review. Data access shall be opened from August 24th – October 2nd, 2009; and bidding documents submission shall start from November 2nd – 6th, 2009.
According to Harun, KSO Batch 2 is executed to optimize the marginal fields utilization in order to contribute in increasing the reserves and production of Pertamina EP. Pertamina EP could focus on the efforts to increase the production on major support fields such as Limau, Tambun, Sukowati and other fields which show a significant increase of production.
KSO Exploration – Production shall be valid for the maximum of 20 years and partners must submit the first year Work Planning & Budget (WP&B) at the latest of 1 month after the effective date and must perform definite commitment during the first three years.
Pertamina EP reserves the right to terminate the whole agreement if definite commitment cannot be performed in the end of the first, second, and third year. Pertamina EP also reserves the right to terminate the contract of agreement if the approval of Plan of Development (POD) given is not performed for the maximum time of 12 months.
The agreement shall automatically terminate if in the end of the third year or the extension year(s) (if any) the economical reserve is not found.
However, if in 3 years or the extension year(s) gas reserve which condemns as economical is found, then the holding period of 2 years may be given to find the market and arrange the POD.
Furthermore the agreement of Production KSO, shall be valid for the maximum of 15 years and partners are obliged to submit the first year WP&B at the latest of 1 month commenced from the effective date and must perform the definite commitment for the first three years.
Pertamina EP also reserves the right to terminate the agreement unilaterally if definite commitment in the first, second, and third year is not performed. The agreement shall also be terminated automatically if at the end of the third year the average of third year production is less than 85% of baseline production.
Pertamina EP will give efforts to find new reserves and optimize the field production to maintain the productive growth of Oil and Gas.
The production target of Pertamina EP has reached the number of 136.504 barrel per day or 11.004 barrel higher than the target of 2009 which is 125.500 barrel per day. For gas production, at the moment, Pertamina EP has reached the number of 1.090 million cubic feet per day, which is the biggest gas producer for domestic needs.
From that number, 28% is allocated for State Gas Company, 22% is for industrial needs, 18% is for fertilizer needs, 18% is for power plant, and the rest of 14% is for Pertamina oil refinery &personal usage. 
For further Information :
Tim Penawaran KSO Pertamina EP
Graha Elnusa Lt.5. Jl. TB. Simatupang Kav. 1B
Jakarta Selatan 12560, Indonesia.
Phone: 62-21 7816770,62-21 75882510
Fax : 62-21 7816775,62-21 75882511 |
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Last Updated on Tuesday, 05 January 2010 19:17 |
