The Indonesian Minister of Energy and Natural Resources, Darwin Zahedy Saleh witnessed the signing of 14 agreements of cooperation in oil and gas is 4 oil and gas cooperation contracts, 6 gas sales agreement (GSA), a Head of Agreement (HoA) and 2 Memorandum of Understanding (MoU), Friday (26 / 11).

Oil and gas cooperation contracts signed by oil and gas is 4 WK offered through direct bidding of Phase I in 2010 that WK North Sokang Sokang managed by the North Energy Ltd., WK Titan which is managed by the Consortium AWE (Titan) Limited-Varuna NZ Oil and Gas Ltd. and PT Sillo Maritime Prime (Titan), which is managed WK Bone Energy Partners (Indonesia Bone) Limited and WK North Arafura Arafura managed BP's North Limited.

Exploration firm commitment of the four winners for the first 3 years of exploration period of geological and geophysical studies of U.S. $ 2.1 million, 2D seismic survey along the 2880 km of U.S. $ 10.8 million, repro 2D data along the 1,000 km of U.S. $ 100 thousand and drilling exploration wells as much as 2 wells with an investment of U.S. $ 15 million, bringing total investment in exploration commitments of U.S. $ 28 million.

"While the signature bonus (signature bonus) to be received directly by the government amounted to U.S. $ 4.2 million," Director General Ministry of Energy and Mineral Resources Oil and Gas, Evita H. Legowo in its report on the event.

While natural gas purchase agreement (GSA) signed totaling 6 units, namely:

1. PT Petrokimia Gresik and Kodeco Energy Co.. Ltd. (amendment) with 3-month long contract, the estimated contract value of U.S. $ 2.77 million.
2. Assorted Perusda Enterprises (enterprises Sidoardjo District) and Lapindo Brantas, the contract value of approximately U.S. $ 40.53 million.
3. PT Petrogas President and Lapindo Brantas in East Java, the total contract value reached U.S. $ 12.34 million.
4. PT Bumi Wiraloka (BUMD Indramayu district) and PT Pertamina EP, the value of U.S. $ 2.26 million contract.
5. PT Pertamina Gas (NGL Plant Central Pondok, Pondok Makmur, Singleton), the value of U.S. $ 22.72 million contract.
6. PT Indonesia Power and Santos Sampang Pty, Ltd. with a contract value of U.S. $ 229.73 million.

Also, be also signing the MoU which HoA and HoA PT Pupuk Kaltim (PKT V) and Pearl Oil Sebuku, Total E & P Indonesie and Inpex. Two MoU between PT Ekapuasaja Mahardika and Qian Investment Holding Pte.Ltd for oil processing plan in Indonesia and asphalt and oil extraction plant from longitudinal natural rock asphalt in Indonesia.

In his speech, Minister of Energy and Mineral Resources points out, the signing of a cooperation contract oil and gas shows Indonesia is still attractive for investment climate and increase oil and gas exploration activities."With increasing oil and gas exploration activities, can be found new reserves that can help oil and gas production target," he added.

Regarding the gas sale and purchase agreements all of which are domestic companies, according to Darwin, showed government commitment to increase the portion of the utilization of gas for the domestic market in order to meet the needs of energy and raw materials to support the growth of industry and national economy.

He expects the signing of this cooperation to improve domestic gas utilization to accelerate the reduction of the use of kerosene for households, in order to achieve energy independence."This cooperation is also expected to meet the needs of natural gas and reduce the burden of fuel subsidies gradually," said Darwin.

[Copyright by the Directorate General of Oil and Gas,]