TEMPO.CO, Jakarta - Pertamina Hulu Sanga-Sanga (PHSS), the subsidiary of state oil firm Pertamina, is officially the new manager of Sanga-Sanga Oil and Gas Block.
PHSS took the job over from US-based oil company Virginia Indonesia Co. (VICO). The management hand-over was done after VICO’s Production Sharing Contract (PSC) term in the block ended yesterday, August 7.
SKK Migas chief Amien Sunaryadi said in a press release on Tuesday that VICO had completed all of its financial commitments to the Sanga-Sanga Block. To ensure the block’s operating continuity, the SKK Migas, PHSS and VICO had finalized the mirroring of Sanga-Sanga’s procurement contracts.
Sanga-Sanga Block has 7 fields which as per July this year had produced 10,735 barrels oil and 80.7 mmscfd gas.
Bisnis.com