ID :
59326
Thu, 05/07/2009 - 11:02
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Shortlink :
https://www.oananews.org//node/59326
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GOVT SIGNS THREE CBM CONTRACTS WORTH US$23.4 MILLION
Jakarta, May 6 (ANTARA) - The government signed three first-three year coal bed methane (CBM) exploration contracts worth US$23.4 million during the convention of the Indonesia Petroleum Association (IPA) here on Tuesday.
The signing of the contracts was witnessed by President Susilo Bambang Yudhoyono, during which the contracts for 12 oil and gas blocks and five agreements on oil/gas sale-purchase were also signed.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said that the three CBM contracts were those of Sangatta II with the consortium of Pertamina Hulu Energi Metana Kalimantan B-PT Visimultiartha, Tabulako with PT Artha Widya Persanda and Ogan Komering with PT Ogan Interior Gas.
The US$23.4 million exploration investment commitment consisted of 9.536 million dollars for Sangatta II, 6.826 million dollars for Taulako and 7.05 million dollars for Ogan Komeraing.
At present, there are seven CBM cooperation contracts for coal bed mathene exploration, namely the Sekayu Block in South Sumatra, the Bentian Besar Block in East Kalimantan, the Indragiri Hulu Block in Riau, the Barito Banjar 1 Block, the Barito Banjar 2 Block, the Sangatta Block and the Kutai Block.
The government is targeting to sign CBM contracts for the exploration of 14 blocks this year. It also hoped that its first CBM production would begin in 2011.
Indonesia has a big CBM potentials, reaching 453 trillion cubic feet, most of which is found in Sumatra and Kalimantan.
On Tuesday, President Yudhoyono opened the IPA convention addressed the annual gathering of executives in the upstream oil and gas sector.
The convention carried the theme: "Managing Resources and Delivering Energy in A Challenging Environment." It reflected the challenge faced in the oil and gas business amid the threat of global recession and a decline in oil and gas prices in the world market.***2***
The signing of the contracts was witnessed by President Susilo Bambang Yudhoyono, during which the contracts for 12 oil and gas blocks and five agreements on oil/gas sale-purchase were also signed.
Energy and Mineral Resources Minister Purnomo Yusgiantoro said that the three CBM contracts were those of Sangatta II with the consortium of Pertamina Hulu Energi Metana Kalimantan B-PT Visimultiartha, Tabulako with PT Artha Widya Persanda and Ogan Komering with PT Ogan Interior Gas.
The US$23.4 million exploration investment commitment consisted of 9.536 million dollars for Sangatta II, 6.826 million dollars for Taulako and 7.05 million dollars for Ogan Komeraing.
At present, there are seven CBM cooperation contracts for coal bed mathene exploration, namely the Sekayu Block in South Sumatra, the Bentian Besar Block in East Kalimantan, the Indragiri Hulu Block in Riau, the Barito Banjar 1 Block, the Barito Banjar 2 Block, the Sangatta Block and the Kutai Block.
The government is targeting to sign CBM contracts for the exploration of 14 blocks this year. It also hoped that its first CBM production would begin in 2011.
Indonesia has a big CBM potentials, reaching 453 trillion cubic feet, most of which is found in Sumatra and Kalimantan.
On Tuesday, President Yudhoyono opened the IPA convention addressed the annual gathering of executives in the upstream oil and gas sector.
The convention carried the theme: "Managing Resources and Delivering Energy in A Challenging Environment." It reflected the challenge faced in the oil and gas business amid the threat of global recession and a decline in oil and gas prices in the world market.***2***
