Indonesia's Pertamina Expects up to 180,000 bpd from Rokan Block when It Takes Over from Chevron
Indonesian state oil company PT Pertamina expects to produce 170,000-180,000 barrels per day (bpd) at the Rokan block when it takes over in August next year, the chief executive of Pertamina Hulu Energi, Budiman Parhusip, said on Wednesday.The government decided in 2018 that the operation of Rokan, Indonesia's second-biggest crude oil producing block, would be transferred to Pertamina when Chevron Pacific Indonesia's contract expires in August 2021.Pertamina previously estimated that the block's output would drop to 140…
Indonesia Targets IPOs of Pertamina Sub-holdings
Indonesia's State-Owned Enterprise Minister Erick Thohir said on Friday he aimed to group units of state oil and gas company PT Pertamina into "sub-holdings" and launch initial public offerings within two years.Thohir is trying to revamp hundreds of Indonesian state companies to boost profitability, as well as improve transparency and public trust.In the case of Pertamina, he wants to create more sub-holdings to group upstream units, as well as downstream and trading units, and prepare them to be publicly listed companies."The target is to have one or two subholdings to go pubic within two years.
Pertamina to Develop Cilacap Refinery without Saudi Aramco
Indonesia's PT Pertamina will develop its Cilacap refinery in Central Java "independently", the state energy company said on Friday, dropping a plan to boost capacity through a joint venture with Saudi Aramco.The two companies have been in talks to upgrade the Cilacap refinery since 2016 and last year said that they would finalize a joint venture plan in the first quarter of 2020."Pertamina will continue to independently develop the Cilacap Refinery Development Master Plan, while we look for another strategic partner…
Pertamina Buys NWS Condensate at 'Deep Discount'
Indonesia's state oil and gas company PT Pertamina has bought a cargo of Australian North West Shelf (NWS) condensate at a deep discount of $8 a barrel to dated Brent on a cost-and-freight (CFR) basis, three trade sources told Reuters on Wednesday. That was equivalent to a spot discount of $10 a barrel on a free-on-board (FOB) basis, the sources said, likely the widest spot discount in years. The cargo, due to arrive in early June, was sold by Exxon Mobil Corp, two of the sources said. Demand for condensate…
Indonesia Mulls Production Contract Schemes
Indonesia considers allowing for production sharing oil and gas contracts optionsIndonesia is considering letting energy companies stick with the "cost recovery" system for oil and gas production sharing contracts, the energy minister said on Monday, after the government decided to adopt a new scheme in 2017.In 2017, Indonesia adopted a scheme known as "gross split" for oil and gas production deals, applicable to new contracts, so that contractors shoulder the cost of exploration and production in exchange for…
NYK, Pertamina Ink Energy Transport MOU
As demand for energy transportation, especially liquefied natural gas (LNG), is expected to increase in Indonesia, NYK and PT Pertamina International Shipping (PIS), a wholly owned subsidiary of PT Pertamina (Persero) agreed to a memorandum of understanding (MoU) for energy transportation.The framework of the deal sees Pertamina, the largest oil and natural gas corporation in the state, and NYK in a strategic partners in energy transportation and covers ownership and management. The companies have already started discussions concerning a detailed joint business…
Indonesia Inks 20-year PSC for Corridor Block
Indonesia's government signed on Monday a production sharing contract with units of ConocoPhillips, PT Pertamina and Repsol SA for the Corridor natural gas blocks, Energy and Mineral Resources Minister Arifin Tasrif told reporters.The contract will extend by 20 years the current contract with the same companies that will expire in late 2023.Under the new contract, the companies will have 53.5% of the gas produced from the block and 48.5% of the oil."The government considers the existing contractors to have the technical and financial capabilities (to operate Corridor)," Tasrif said and hopes production from Corridor would be expande
Pertamina, Aramco Extend Cilacap Refinery Talks
Indonesia's PT Pertamina and Saudi Aramco have extended negotiations regarding an upgrade to Pertamina's Cilacap oil refinery December, State-Owned Enterprise Minister Erick Thohir said on Tuesday.The two sides have extended their negotiations a few times since last December as they struggle to agree on a valuation for the project.
Neptune Acquires Interests in Offshore Indonesia
Neptune Energy East Sepinggan, subsidiary of the European exploration and production company Neptune Energy has agreed to acquire interests from the Eni East Sepinggan Limited, a unit of Eni in the Kutei basin production sharing contracts (PSC) offshore Indonesia.According to a press release from the Italian multinational oil and gas company, it will continue to be the Operator of the area which is located in the East Sepinggan area, offshore East Kalimantan in Indonesia, and includes Merakes development and Merakes East discovery.
ADNOC, Pertamina Ink Development Pact
The Abu Dhabi National Oil Company (ADNOC) signed an agreement on Wednesday with Indonesia's state-owned energy company PT Pertamina for oil and gas collaboration in both countries and globally, ADNOC said in a statement.The comprehensive strategic framework (CSF) agreement was signed on the sidelines of an official visit to Indonesia by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed.It covers projects in the United Arab Emirates' upstream oil and gas sector as well as refining and petrochemicals, LNG, LPG, aviation fuel and fuel retail opportunities in Indonesia.The two parties will also explore collaboration across transport, tr
Asia: Pertamina, Petronas Join Forces
Indonesian state-owned energy company PT Pertamina and Petroliam Nasional Berhad (Petronas) of Malaysia have signed a Memorandum of Understanding (MoU) to develop oil and gas business – upstream and downstream, not only in Indonesia or Malaysia but also in other countries.As per MoU, Pertamina will swap crude produced in its Malaysian fields of Kikeh, Kimanis and Kidurong with crude from Petronas' Indonesian fields of Jabung and Ketapang, said a Reuters report quoting Pertamina sources.Meanwhile, Pertamina, Jakarta-based state-owned oil and natural gas corporation…
Indonesia Approves Eni’s Merakes Project
Italian energy giant Eni announced that Indonesia has approved its investment plan for the Merakes project, located in the Kutei Basin, offshore East Kalimantan.Eni will now start work on developing the project, which will involve drilling and constructing subsea wells in water depths of 1,500 metres. These will be connected to the Jangkrik floating production unit 35 km northeast of the site.he gas production will be shipped to the Bontang LNG plant using also all the other existing facilities of Jangkrik field as well as the East Kalimantan transportation network.
InterMoor Awarded SPM Installation from PT Pertamina
InterMoor, an Acteon company, has been awarded a Single Point Mooring (SPM) installation from PT Pertamina in Indonesia. The work is part of a contract for engineering, procurement, construction, installation and commissioning of Subsea Pipe Line (SPL) and Single Point Mooring (SPM) awarded to a consortium comprised of Indonesian EPC company PT.Rekayasa Industri and InterMoor Pte. The award will contribute to the expansion of Pertamina’s refinery in Balongan, West Java. The refinery development master plan intends to increase the capacity of the Balongan refinery from 100 thousand barrels per day (bpd) to 280 thousand bpd.
ExxonMobil starts Banyu Urip CPF
ExxonMobil announced today the successful and safe startup of the onshore central processing facility at the Banyu Urip field in Indonesia, helping increase production to more than 130,000 barrels of oil per day. With the central processing facility now online, production will continue to increase in the coming months. Once full field production is reached, Banyu Urip will represent approximately 20 percent of Indonesia’s 2016 oil production target. “This milestone demonstrates ExxonMobil’s project management expertise and illustrates the strong partnerships we share with our Indonesia co-venturers and contractors…
Wärtsilä to Set-up Indonesia's first bio-LNG plant
Wärtsilä and two Indonesian partners have today signed a joint development agreement with the intention of creating the first ever bio-LNG plant in Indonesia. The co-signers of the agreement with Wärtsilä are PT Pertamina (Persero), a national energy company, and PT Godang Tua Jaya (GTJ), a waste utilization sector specialist company. Wärtsilä Oil & Gas Systems (WOGS) will conduct a feasibility study for the project to develop a mini bio-LNG plant with a capacity of 0,75 tons/hour, which corresponds to approximately 4 MW/hour in electrical production.
Pertamina Awards EPCI Contract for Matindok Gas Project
Technip, in a consortium with PT Wijaya Karya (Persero) Tbk (WIKA), was awarded an onshore lumpsum contract by PT Pertamina EP for the Matindok Gas Development project located in Central Sulawesi, Indonesia. The contract covers the engineering, procurement, construction and installation of gas well pads, flowlines, pipelines; a central processing plant (672 million cubic meters per year of gas) with gas treatment facilities such as acid gas removal as well as sulphur removal, and related infrastructure. Sweet gas from Matindok central processing plant will be sent to the Donggi Senoro liquefied natural gas (LNG) plant.
Gresik-Semarang Gas Pipeline Project To Start In June
PT Pertamina Gas (Pertagas), a unit of Indonesia's state oil and gas firm Pertamina, expects work on its 271-kilometer gas pipeline project linking Gresikand Semarang to commence in June, said CEO Hendra Jaya. The $500-million project is expected to be completed within 18 months. (Bisnis Indonesia) Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)
Offshore Indonesia Oil Exploration Progress by RH Petrogas
Located in shallow water depth of 32 meters, the Koi-2 appraisal well in the Salawati Kepala Burung PSC Indonesia area has successfully reached its total vertical depth of 1,428 meters with analysis awaited, says RH Petrogas (RHP). During drilling of the Kais limestone, oil shows were observed from cutting samples. As a result, two conventional cores with total length of 50 feet were cut from the well. Both cores encountered oil shows. Logging operation is currently being carried out and production testing will follow if log analysis confirms the presence of hydrocarbon zones.
