| Government Review "split" Oil 70:30 |
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| Friday, 20 May 2011 00:00 | |||||
Page 1 of 2 Government Review "split" Oil 70:30Jakarta (ANTARA News) - The government review the amount of profit-sharing or "split" with the composition of crude oil production 70 per cent of the country and 30 percent for contractors. Oil and Gas Director General of the Ministry of Energy and Mineral Resources Evita Legowo said here on Thursday said the magnitude of the (split) is intended for contractors who perform deep-sea exploration, especially in the area of eastern Indonesia. "We want more investors interested," he said. He said the determination of the amount of "split" has involved a team of engineers and universities. "So it` fair, 'because it involves different disciplines such as experts in geology, production, and infrastructure, "added Evita. In general, the amount of "split" the oil ranges from 80-85 percent and 15-20 percent of the contractor. Magnitude production split is calculated after deducting operating costs (cost recovery). The government will offer 20 oil and gas blocks are mostly located in the sea in eastern Indonesia on Friday (20 / 5). The 20 blocks offered in the first round auction that consisted of nine through the mechanism of regular tenders and 11 others through direct bargaining. To-9 blocks offered through regular tender is Feathers Apex, Offshore East Sea I, II Offshore East Sea, Halmahera I, Helmahera II, III Halmahera, West Aru I, West Aru II, and the Arafura Sea II. Currently, eleven blocks a direct quote that is Ranau, Northeast Madura, West Cape, Belayan, Simenggaris East, North Ganal, Babar Selaru, Obi, North Semai, West Berau, and Semai IV. Government targets offer 50 oil and gas blocks in the two rounds of auctions work area in 2011. In 2011, the government also plans to offer 10 blocks of coal methane gas (coal bed methane / CBM). (K007/S019/K004) Editor: B Kunto Wibisonoakarta (AFP) - The government review the amount of profit-sharing or "split" with the composition of crude oil production 70 per cent of the country and 30 percent for contractors. Oil and Gas Director General of the Ministry of Energy and Mineral Resources Evita Legowo said here on Thursday said the magnitude of the (split) is intended for contractors who perform deep-sea exploration, especially in the area of eastern Indonesia. "We want more investors interested," he said. He said the determination of the amount of "split" has involved a team of engineers and universities. "So it` fair, 'because it involves different disciplines such as experts in geology, production, and infrastructure, "added Evita. In general, the amount of "split" the oil ranges from 80-85 percent and 15-20 percent of the contractor. Magnitude production split is calculated after deducting operating costs (cost recovery). The government will offer 20 oil and gas blocks are mostly located in the sea in eastern Indonesia on Friday (20 / 5). The 20 blocks offered in the first round auction that consisted of nine through the mechanism of regular tenders and 11 others through direct bargaining. To-9 blocks offered through regular tender is Feathers Apex, Offshore East Sea I, II Offshore East Sea, Halmahera I, Helmahera II, III Halmahera, West Aru I, West Aru II, and the Arafura Sea II. Currently, eleven blocks a direct quote that is Ranau, Northeast Madura, West Cape, Belayan, Simenggaris East, North Ganal, Babar Selaru, Obi, North Semai, West Berau, and Semai IV. Government targets offer 50 oil and gas blocks in the two rounds of auctions work area in 2011. In 2011, the government also plans to offer 10 blocks of coal methane gas (coal bed methane / CBM). (K007/S019/K004) Editor: B Kunto Wibisono
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