Total Urges Government to Comply with PSC Provisions
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Rabu, 22 April 2015 15:00 WIB
Blok Mahakam. TEMPO/Firman Hidayat
TEMPO.CO, Jakarta - French energy company Total E&P urged the Indonesian government to comply with the production sharing contract (PSC) that provides the company with the authority to manage the Mahakam Block until December 31, 2017.
President and General Manager of Total E&P Indonesia Hardy Pramono, refused to provide comments on the possibility of state-owned oil and gas company PT Pertamina's request to manage the Mahakam Block before the agreement ends.
Hardy explained that the PSC regulate provision on a transition period and nor the participation of other parties in managing the block in any form prior to the end of the contract. "Don't let the government intervene with the contract, we should respect it," said Hardy.
Pertamina on the other hand, has been attempting to be involved in managing the Mahakam Block by before the end of the PSC by purchasing Total's shares, an effort which have yield any result.
