Government of Indonesia Announces Winners of the Tender Offer Direct Regular and Work Area Oil and Gas

The Government of Indonesia announced the 23 winners offer oil and gas working areas by 2009 in phase II Oil and Gas Building, Friday (14 / 5). For the working area are offered through direct bidding (direct proposal), determined 11 winners from 11 areas of work offered. While working for the region offered through regular tender, set three winners from 12 areas of work offered.

Winners of oil and gas working areas are offered through direct bidding are:

• Work Area Puri: PT Sargas & Vega
• Work Area Sakakemang: Cakra Nusa Darma (SKKMG) Ltd
• Work Area Sunda Strait I: Konsorsium Komodo Energy LLC-Niko Resourches (Overseas XI) Ltd
• Work Area North Madura: Konsorsium PT Baruna Recovery Energy-AWE Ltd
• Work Area Mandala: Konsorsium PT Bumi Hasta Mukti-Fortune Empire Group Ltd
• Work Area Karapan: PT Leogryph Indonesia
• Work Area long Hubung Long Bagun: PT Kalisat Energi Nusantara
• Work Area Malunda: PTT Exploration and Production Public Co., Ltd
• Work Area South Mandar: Konsorsium Talisman (Asia) Ltd-PTT Exploration and Production Public Co., Ltd
• Work Area Sadang: Konsorsium Talisman (Asia) Ltd-PTT Exploration and Production Public Co., Ltd
• Work Area South Sageri: Konsorsium Talisman (Asia) Ltd-PTT Exploration and Production Public Co., Ltd
  

While the winners of oil and gas working areas which are offered through regular tender are:

• Work Area Cendrawasih Bay II: Konsorsium Repsol Exploracion S.A-Niko Asia Ltd
• Work Area Cendrawasih Bay III: Konsorsium Black Gold Ventures LLC-Repsol Exploracion S.A
• Work Area Cendrawasih Bay IV: Konsorsium Black Gold Ventures LLC-Repsol Exploracion S.A
  

Oil and Gas Upstream Business Development Director A. Edy Hermantoro explained, the total investment commitment of certain exploration work area 14 is for the first three years to reach U.S. $ 146 million, consisting of geological and geophysical studies for U.S. $ 13.15 million, 2D seismic survey along the 9350 km of U.S. $ 15.45 million , 3D seismic survey covering 4350 km of U.S. $ 28.50 million and drilling exploration wells as many as eight wells with a total investment of U.S. $ 75.5 million. While signing bonuses that will be received directly by the Government amounting to U.S. 14.65 U.S. dollars million.(*)