Indonesia Revises 11 Gas Contracts
“With the signing of the 11 contracts, the State will get US$660 million.”
(Surabaya Post/Asepta Y.P. )
VIVAnews – The government has revised prices of 11 gas supply contracts with several production sharing contractors (KKKS). With this revision, the State will gain Rp6 trillion from the oil and gas sector.
The Operational Control Deputy of Oil and Gas Regulator (BP Migas), Rudi Rubiandini, said all contracts will be signed on Tuesday, May 8, and will be witnessed by Minister of Energy & Mineral Resources, Jero Wacik.
“With the signing of the 11 contracts, the State will get US$660 million,” said Rudi in Jakarta, on Monday.
The gas prices in the 11 contracts average between US$1.8 million and US$2 million per million british thermal unit (mmbtu). BP Migas managed to rise the gas price to US$6 per mmbtu in average.
“The supply is made more secure as oil and gas producers will have rooms for maintenance, workover, etc. Without price increase, it is possible that manufacturers will close down businesses,” he said.
BP Migas, he said, held out gas prices in certain level so as to protect the buying ability in industrial sector as well as accommodating multiple effects toward the national industry.
Rudi said the revised contracts include the supply from Pertamina (19 million million standard cubic feet per day/mmscfd), CNOOC to Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) (1 mmscfd), Pertamina EP to PT PGN (Persero) (110 mmscfd), and ConocoPhilips to Petronas Duyong (263 mmscfd).
In addition to the above, there are also the gas contracts of ConocoPhilips to PGN (300 mmscfd), Medco Energy to PT PLN (Persero) Inderalaya (18 mmscfd), PHE West Madura Offshore (PHE WMO) to PLN (123 mmscfd), Joint Operation Body (JOB) Talisman Jambi Merang to BUMD Pembangunan Kota Batam (10 mmscfd), Pertamina EP to PT Pupuk Sriwijaya (166 mmscfd), Santos Indonesia to PGN (80 mmscfd), dan Hess to PLN (57 mmscfd).
As for 2013, BP Migas is targeting that around 12 gas supply contracts will be renegotiated. The price renegotiation is expected to boost State revenue by Rp6 trillion.
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