Pertamina Takes Over Rokan Oil Block Starting from the Year 2021
1 August 2018 07:02 WIB
TEMPO.CO, Jakarta - The Indonesian government is finally set to hand over the Rokan oil block operations rights to its state-run energy company Pertamina by the year 2021.
Energy and Mineral Resources (ESDM) Deputy Minister Arcandra Tahar said that the decision was taken after the government evaluated the proposals submitted both by Pertamina and existing operator Chevron Pacific Indonesia.
“The government, through the ESDM Ministry determined to hand the operations of Rokan block to Pertamina for duration of 20 years starting from August 2021,” said Arcandra Tahar on Tuesday, July 31.
According to Arcandra, Pertamina offered a signature bonus worth USD784 million and a definite work commitment of USD500 million. The Rokan block currently produces in average around 200,000 barrels per day.
He said that the potential state income produced by the deal with Pertamina is worth USD7 billion or Rp825 trillion which could benefit the country. “Chevron’s offer was far below what Pertamina proposed,” said Arcandra.
BISNIS.COM