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Pertamina set to operate Arun terminal next year |
| 2012-03-13 23:24:30 |
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| Jakarta (ANTARA News) - State oil and gas company PT Pertamina is set to operate a natural liquefied gas terminal following the conversion of the Arun plant in Aceh in June next year.
Pertamina`s spokesman M Harun said in Jakarta Friday that he has become increasingly optimistic to build the LNG terminal in Arun following a strategic decision of the State Enterprises Minister on the utilization of the plant.
"Based on the decision, Pertamina became committed to complete the project in June next year," he said. |
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Indonesian president calls for improved national energy security |
| 2012-03-13 23:22:55 |
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| Jakarta (ANTARA News) - Indonesian President Susilo Bambang Yudhoyono has asked the National Energy Council to develop policies that would strengthen the nation`s medium and long-term energy security so that the country can address its rising energy needs.
The council which is made up of government representatives and stakeholders in the energy sector should pay attention to not only short-term issues, but also think of how the country could develop medium and long-term energy security, the President said while opening the council`s first plenary session at the Energy and Mineral Resources Ministry building in Jakarta on Wednesday.
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Accelerate production to stop decline |
| 2012-03-13 23:20:58 |
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| Upstream oil and gas regulator BPMigas is currently under the spotlight for Indonesia’s declining oil production.
As of Feb. 28, the country’s total output was only 885,000 barrels per day (bpd), far lower than the target of 950,000 bpd.
BPMigas head Raden Priyono talked with The Jakarta Post’s Rangga D. Fadillah about the agency’s strategies for ramping up oil production this year and its efforts to minimize disruption in upstream oil and gas activities. Below are the excerpts:
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Pertamina Courts Saudi Oil Company |
| 2011-12-29 21:06:15 |
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| Indonesia’s state-controlled energy company Pertamina will cooperate with Saudi Arabian Oil Company to build a Rp 80 trillion ($8.8 billion) oil refinery in Tuban, East Java, an executive said on Thursday.
Edi Setianto, processing director at Pertamina, said he expected the two companies to sign a memorandum of understanding on the new refinery by the middle of next month.
The Tuban refinery is expected to have a processing capacity of 300,000 barrels a day when completed. It would produce 8.29 million kiloliters of gasoline annually, consisting of 3.93 million kiloliters of low-octane Premium gasoline, 2.68 million kiloliters of diesel and 1.68 million kiloliters of jet fuel.
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Saratoga acquires 51% of Medco unit |
| 2011-12-21 21:47:58 |
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| PT Saratoga Power, a part of Saroga Capital, has agreed to acquire a majority stake in PT Medco Power Indonesia, a subsidiary of publicly listed energy company PT Medco Energi Internasional Tbk.
As part of an agreement signed in Jakarta on Thursday, Saratoga Power agreed to pay US$112 million to buy 51 precent of Medco Power’s shares, comprising $87 million paid on Friday and $25 million to be paid in January.
Medco Energi president director Lukman A. Mahfoedz said that the divestment in Medco Power would reduce the company’s revenues. |
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Medco sets aside $356m for expansion |
| 2011-12-21 21:48:28 |
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| Publicly listed PT Medco Energi International will allocate up to US$356 million for capital expenditure in 2012, to finance exploration and development of new oil and gas fields in the country and overseas.
“We have arranged to spend $1.2 billion next year; $356 million of which will be used as capital expenditure and the $818 million as operating expenses,” company president director Lukman Mahfoedz said during his company’s public expose on Thursday.
Director of finance Syamsurizal Munaf said that the company would use internal cash and standby bank loans to support the capital expenditure. |
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Six firms win rights to develop oil fields |
| 2011-12-21 21:46:01 |
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| The Energy and Mineral Resources Ministry announced on Wednesday the six winners of the second phase of this year’s oil-and-gas blocks tender.
The investment commitment from the six winning companies is expected to top US$38.15 million in the first three years, with signing bonuses of $6.5 million.
The winners included Eurorich Group Ltd, which was awarded a exploration contract for the Kalyani Onshore field in Jambi; PT Anugrah Mutiara Sentosa, to develop the South Baturaja field in South Sumatra; PT Terra Global Vestal, to develop the North Baturaja field in South Sumatra; PT Mentaru Abdi Pertiwi, to develop the Kuala Pambuang field in Central Kalimantan; Serica Energy Ltd, Neon Energy Ltd and Natuna Ventures Pte., to develop the offshore Tanjung Aru field in East Kalimantan; and Niko Resources (Overseas XIX) Ltd, to develop the Southeast Seram field in Maluku.
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PLN finally receives gas from Grissik |
| 2011-12-09 00:57:35 |
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| After several delays, upstream oil and gas regulator BPMigas has announced that the Grissik field in South Sumatra will start delivering 65 billion British thermal units per day (bbtud) of gas to state-power utility, PT PLN, within the next few days.
BPMigas spokesperson Gde Pradnyana said on Friday that delivery would be conducted under a swap mechanism with PLN’s allocation from the Jambi Merang field in Jambi. Under the mechanism, ConocoPhillips, operator of the Grissik field, would supply the gas to PLN, while PLN’s allocation at Jambi Merang would be channeled to Chevron Pacific Indonesia, he added.
BPMigas issued an order to begin deliveries starting on Dec. 1. “All related parties have coordinated and complied with all clauses stipulated in the swap agreement,” Gde said. |
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Medco begins using coal methane gas to generate electricity |
| 2011-11-27 21:10:39 |
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| Jakarta (ANTARA News) - PT Medco Energi Internasional Tbk (Medco) has begun using coal methane gas from its Sekayu GMB Block to generate electricity and signed a deal to sell the gas to the South Sumatra government-owned energy and mining company PDPDE.
A memorandum of understanding (MoU) on the coal methane gas supply was signed by president director of PT Medco CBM Sekayu Pudjo Suwarna and president director of PDPDE Caca Isa Saleh in the presence of Energy and Mineral Resources Minister Jero Wacik, a PT Medco press statement said.
Under the MoU, Medco would supply the gas to PDPDE over a period of five years at a constant rate of 200 mscfd directly from Medco`s CBM SE-2 well in the Sekayu GMB Block. PDPDE would use the gas to meet the local community`s need for electricity. |
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Industries Prepared to Purchase Gas at Market Price |
| 2011-11-27 21:09:02 |
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| TEMPO Interactive, Jakarta:A number of entrepreneurs have stated their willingness to purchase gas at prices higher than the market price.
Achmad Wijaya, Chairman of the Indonesian Ceramics Industries Association, said that he is willing to purchase gas at a maximum price of US$10 per million metric British thermal unit. “As long as [the gas] is in good quantity and quality,” said Achmad, contacted on Thursday.
The issue has been discussed with Evita Herawati Legowo, Director-General of Oil and Natural Gas, four months ago. However, Achmad requested the government’s real implementation on fulfilling gas demands for industries. |
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Govt to increase domestic use of LNG |
| 2011-11-27 21:05:37 |
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| Jakarta (ANTARA News) - The government will increase the use its liquefied natural gas (LNG) for domestic purposes which will continue to increase in the coming years, a deputy minister said.
Deputy Minister for Energy and Mineral Resources Widjajono Partowidagdo said here on Thursday that the construction of LNG terminals in the country was still going on.
"We will continue to monitor the development of LNG terminals in the country" he said. |
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Eni Awarded Two New Exploration Contracts In Indonesia |
| 2011-11-27 21:03:48 |
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| Eni, through its subsidiary Eni Indonesia, has been awarded two new Production Sharing Contracts (PSCs) in Indonesia. In the West Papua Province (East Indonesia), Eni has been awarded 100% interest in the Arguni I PSC (5,386 sq. km), located onshore and offshore in the Bintuni Basin. The block is 10 km east of the Tangguh LNG processing facility. The work program foresees the acquisition of 2D and 3D seismic and the drilling of two wells during the first 3 years of exploration.
In the offshore East Kalimantan Province, Kutei Basin, Eni, as part of a consortium including Niko Resources (North Ganal), North Ganal Energy (a wholly-owned subsidiary of Black Platinum Energy), Statoil Indonesia North Ganal and GDF SUEZ, has been... |
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Pertamina gets backing to operate Mahakam block |
| 2011-11-14 23:09:13 |
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| The government says it will fully support state oil and gas company PT Pertamina in operating the country’s largest gas production site, the Mahakam block in East Kalimantan, when the contract of the site’s current operator, French energy giant Total, expires in 2017.
The Energy and Mineral Resources Deputy Minister Widjajono Partowidagdo said that ideally there would be a clear decision on the future of the block at least 10 years before the contract expired.
“However, since that time window has passed, we have to make a decision as soon as possible,” he said over the weekend.
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S. Korea to invest in energy, mineral resources in RI |
| 2011-11-14 23:10:53 |
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| South Korean Ambassador to Indonesia Kim Young-sun met with Energy and Mineral Resources Minister Jero Wacik to discuss investment opportunities in energy and mineral resources in Indonesia.
“We talked about oil and also a gas power plant,” Kim Young-sun said in Jakarta on Monday as quoted by kompas.com.
He said that cooperation with Indonesia was needed because Indonesia was a very important partner for Korea, with many Korean companies already operating in Indonesia. |
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Govt to boost oil, gas exploration in Papua |
| 2011-11-14 23:10:23 |
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| The government says that it will be more focused on the development of oil and gas reserves in Papua.
“According to the results of satellite photos, Papua has huge oil and gas reserves,” deputy minister for energy and mineral resources Widjajono Partowidagdo said on Monday.
Currently, many companies conducting exploration activities in the province face various constraints, including difficulty obtaining permission to drill in protected forest areas, he said.
“We’ll discuss this issue with the Forestry Ministry as soon as possible,” he said. |
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New Oil Law Clause to Put Locals Ahead |
| 2011-11-14 23:10:03 |
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| The government plans to add a new clause to its oil and gas law that will give Indonesian oil and gas companies the top priority in taking over expired contracts of foreign companies, a senior official said on Monday.
According to the Ministry of Energy and Mineral Resources, 13 oil and gas blocks are set to expire from 2013 to 2020. Among them are the largest gas-producing block in Mahakam, operated by France’s Total E&P Indonesie, in 2017, and the South Natuna Sea Block B, operated by ConocoPhillips Indonesia, a local unit of the US oil and gas giant, in 2018.
CNOOC’s Southeast Sumatra block and Chevron Pacific’s East Kalimanatan block will also expire within the decade. |
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Review of Coal Methane Gas Utilization |
| 2011-11-10 23:49:28 |
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| JAKARTA, KOMPAS.com-utilization of coal methane gas to produce electricity needs to be studied more deeply. In addition to unpreparedness of the technology side, the potential impact of utilization on the environment must also be anticipated.
This was conveyed by electrical Fabby Tumiwa observers, Sunday (6/11/2011), in Jakarta. |
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Petross to buy 70 percent of Jatirarangon from Ramba |
| 2011-11-07 21:12:16 |
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| PT Petross Energy says it will pay US$30 million to Australia-listed Ramba Energy to acquire a 70 percent stake in the Jatirarangon oil and gas block in Bekasi, West Java.
Petross president director Andhika Anindyaguna Hermanto said in a statement released over the weekend that a conditional sales purchase agreement (CSPA) would be signed in the second week of November, while a final deal was expected to be concluded by the end of the month.
“We hope through the purchase of the stake, we can improve our upstream business. We also hope that our ownership of the block can support PT Petross Gas, our company in the downstream sector,” he said in a press statement sent to The Jakarta Post. |
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Norwegian company wins tender to build Belawan LNG terminal |
| 2011-11-07 21:11:12 |
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| State gas distributor PT PGN has appointed Norway-based Liquefied Natural Gas (LNG) Höegh to build the Belawan floating storage and re-gasification unit (FSRU) in North Sumatra .
Deputy Energy and Mineral Resources Minister Widjajono Partowidagdo told reporters that the company had won the tender and was now eyeing a similar construction project in Central Java.
“They really hope they can also win the tender in Central Java, because they have expertise,” he said after meeting representatives of the company at his office in Jakarta on Monday. |
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Govt to reduce gas exports to singapore |
| 2011-11-07 21:10:21 |
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| Jakarta (ANTARA News) - Indonesian government plans to reduce gas exports to Singapore to cover shortage of the strategic commodity in the country, deputy minister of energy Widjajono Partowidagdo said.
The reduction in gas exports to Singapore, he said here on Sunday, would be replaced by export of electricity to that country.
"The idea is that we will build a coal-fired power plant with a quite big capacity of, say, 4,000 MW in Batam in the Riau Islands province. Of the total 3,000 MW will be exported to Singapore through a transmission cable and the rest is for Batam and surrounding areas," he said. |
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Bosowa and Pertamina Partner to Build Sulawesi LPG Terminal |
| 2011-11-07 21:09:03 |
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| Bosowa Corporation, a business group with headquarters in Makassar, South Sulawesi, has secured Rp 394.8 billion ($44 million) from Bank Rakyat Indonesia to help finance the building of a liquid gas terminal in South Sulawesi, a top executive said.
“The funds will be used to build the biggest liquid propane gas (LPG) terminal in the eastern part of Indonesia,’’ said Erwin Aksa, chief executive of Bosowa Group, in a statement sent to the Jakarta Globe.
The group will build the liquid propane gas terminal through its unit Bosowa Duta Energasindo. |
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PLN to buy 0.5 mscfd of CBM from VICO |
| 2011-11-07 21:08:05 |
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| State-owned electricity firm PT PLN will buy 0.5 million standard cubic feet per day (mmscfd) of coal bed methane (CBM) from VICO Indonesia to operate the 3-megawatt Sindang Jaya mini gas power plant in East Kalimantan.
PLN president director Nur Pamudji and VICO president Craig Stewart signed a Memorandum of Understanding (MoU) on the CBM sales on Friday. The price will be determined in a sales and purchase agreement within two weeks. This will mark the first time CBM is used to generate electricity in Indonesia.
The signing was also attended by Energy and Mineral Resources Minister Jero Wacik and upstream oil and gas regulator BP Migas chairman R. Priyono. |
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Shell awaits govt's approval on Masela Block |
| 2011-10-31 21:17:27 |
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Bagus BT Saragih, The Jakarta Post, Singapore | Mon, 10/31/2011 6:59 PM
Royal Dutch Shell CEO Peter Voser said on Monday he was still waiting on approval from the Indonesian government over an agreement that a 30 percent participating interest of Japan-based Inpex Corporation in the Masela Block, Maluku, be transferred to Royal Dutch Shell.
The agreement was made in July but it had yet to be approved by the Indonesian government, Voser said on the sidelines of the 2011 Singapore Energy Summit.
The project will work in the Abadi gas field and planned to utilize floating LNG plant. |
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Local Energy Giant Medco Sells Rights To Tunisia Oil and Gas Blocks for $58m |
| 2011-10-31 21:15:17 |
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Ririn Radiawati Kusuma | October 30, 2011
Indonesia’s Medco Energi Internasional has sold its rights in oil and gas blocks in Tunisia for $58 million, part of a strategy to focus on developing blocks it operates itself, an official has said.
Medco Energi will sell its entire stake in Medco Tunisia Anaguid, which holds interests in Tunisia’s Durra concession and the Anaguid exploration area, to OMV (Tunesien) Production, a subsidiary of the Austria-based OMV Exploration & Production, a leading energy group in Central and Southeastern Europe.
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Exxon Awards Cepu Contract to Sembcorp Marine |
| 2011-10-31 21:13:45 |
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thejakartaglobe
Exxon Mobil Corp has awarded two engineering contracts to build floating storage and offloading facilities at the Banyu Urip oilfield, and said this will lead to full production of 165,000 barrels per day (bpd) at its Cepu block in three years.
The award to Sembawang Shipyard, a subsidiary of Singapore's Sembcorp Marine , and to Indonesian firm PT Scorpa Pranedya, come as the U.S. oil giant and partner state energy firm Pertamina aim to boost output from 20,000 bpd now.
The Cepu block in Java, Indonesia's biggest oil find in the last decade, will help to limit declining output in the former OPEC member. |
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