| Pertamina Kodeco trailer working on the West Madura |
 |
 |
 |
| Tuesday, 06 April 2010 10:18 | |||||||
Page 1 of 2 JAKARTA:
PT Pertamina (Persero) took Kodeco Energy for the development of West
Madura block as part of the meeting of the Indonesia-Korea Energy Forum
held in Seoul, South Korea last month.
Director General of Oil and Natural Gas Ministry of Energy and Mineral Resources Evita Herawati Legowo said the two companies have made a collective agreement. Understanding is especially associated with the pattern of relations of cooperation the two companies in the West Madura block now dioperatori by the South Korean company. "Between their business to business [B to B] is wrong, but that report has not formally decided yet," he answered questions yesterday's Business. As is known, Kodeco and other partners, namely CNOOC intends to extend the cooperation contract oil and gas in West Madura block that will expire in May 2011. However, state-owned Pertamina wants at least it could be the operator in the block, if not get the rights for 100% participation. Participation rights Pertamina wants at least able to improve the rights of participation in the block's production to 60% to take control, from the current position of 50%. In the old contract, Kodeco and CNOOC to share the same rights of participation, ie 25% with the right service at Kodeco. When contacted, Ali Mundakir PHE Relations Manager said that until recently information on the employment contract is still in the same parent company. However, he said, PHE hoping to take over control of the operator of Block West Madura. "If the parent [Pertamina] had been no decision and it was also agreed changes in service, our operators will be assigned to be executor West Madura. But, so far no information about it." In addition to cooperation on the West Madura, in the upstream sector, Pertamina also signed a cooperation agreement with the Poleng TAC Kodeco for development. In the Poleng TAC, Kodeco currently working with Pertamina EP. Senior Vice President and General Manager Huang Chunlin Kodeco Energy Indonesia earlier said the oil company's production reached 28,827 bpd and 205,776 million cubic feet per day (MMSCFD) of gas. The equivalent production of 63,000 barrels of oil equivalent per day of oil and gas production was a record company for operating in Indonesia. In addition to the upstream oil and gas related sectors, Indonesia energy forum-South Korean cooperation also resulted in an agreement between Pertamina and SK Energy to downstream oil and gas. Both are involved in the project base lubricant refinery in Dumai and several other potential co-operation in Indonesia.
|
Legitimacy & Law
About Us
Trusted Partner
