English Version
ENGLISH
| Friday, 21 September 2018 |
Indonesia Version
INDONESIA
Facebook
Twitter


Thursday, 20 September 2018 | 22:00
Minister Darmin Explains Jokowi`s Order on Rice Import Debate The government would immediately correct the data gap released
by institutions on the needs and stocks of rice as ordered by
President Jokowi.
Thursday, 20 September 2018 | 21:32
World Bank Projects 5.2 percent Growth for Indonesia in 2019 The World Bank is projecting Indonesia`s economy to experience
5.2 percent growth in 2018 and 2019.
Pertamina Receives Rights to Manage 8 Termination Blocks
A view of state-owned oil giant Pertamina's refinery unit IV in Cilacap, Central Java. REUTERS/Darren Whiteside
Tuesday, 17 April, 2018 | 20:58 WIB
Pertamina Receives Rights to Manage 8 Termination Blocks

TEMPO.CO, Jakarta - The government decided to hand over 100 percent of the right to manage or participating interest (PI) of eight oil and gas blocks termination this year to state-owned oil and gas company Pertamina.

Head of Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi, said that the rights will be given to Pertamina and its existing partners.

"After a long discussion on Friday, April 13, 2018, from the government, the eight parties have decided that 100 percent of the interest will be handed over to Pertamina," Amien said in Jakarta on Monday, April 16, 2018.

Later, the existing partners in each oil and gas block who are interested in re-joining and re-managing the block can initiation a business-to-business (B-to-B) negotiation with Pertamina.

Amien explained that the decision to hand over the participating interest to Pertamina was made based on two considerations. First, the government wants to help Pertamina's under pressure financial condition due to the significant increase in global oil price, while the price of subsidized fuel will not be raised until 2019.

Second, the government wants to accelerate the process of signing the contract and transfer the eight termination blocks because Pertamina's B-to-B negotiation with the existing PI holder took a long time.

Amien hoped that the decision can help to expedite the signing of new contracts for the termination blocks.

BISNIS.COM



via Facebookvia TEMPO ID

Comments


Disclaimer: The views expressed in the comments sections are personal responses that do not represent the editorial policy of tempo.co. Our editorial staff reserves the right to moderate or take down comments that contain harassment, intimidation and discrimination against ethnicity, religion, race, and inter-group relations.