English Version
| Thursday, 26 April 2018 |
Indonesia Version

Thursday, 26 April 2018 | 20:24
Time for ASEAN to Speak ASEAN countries cannot remain silent as they witness human
rights violations so close to home.
Thursday, 26 April 2018 | 20:08
AP II to Add 12 Cars of Soekarno-Hatta Airport Skytrain for Eid AP II will gradually operate more trainsets of Skytrain at
Soekarno-Hatta airport as to ease the access of the passenger.
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.


via Facebookvia TEMPO ID


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.