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Indonesian Pertamina to take over 8 expiring oil blocks - Energy ministry

Gasoil News - Published on Tue, 24 Apr 2018

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Reuters reported that Indonesia's Pertamina has signed agreements to take over the rights to eight expiring oil field blocks previously held by Chevron , CNOOC and Inpex, among others, an energy ministry official said. "Pertamina has paid a signature bonus of USD 33.5 million," Oil and Gas Director General Mr Djoko Siswanto said, referring to the agreements.

Mr Siswanto said that Pertamina had also committed to spending USD 556.5 million on developing the fields over the next three years, including for drilling programs, exploration and workovers.

He said that "We hope Pertamina can use the employees who worked for the previous operators, maintain output and use the same products and services."

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Posted By : Nanda Koijam on Tue, 24 Apr 2018
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