Pertamina prepares exploration blocks for licensing this year

Jul 11, 2000 02:00 AM

Indonesia's Pertamina has prepared a number of exploration blocks to be offered for licensing this year, Pertamina president Baihaki Hakim said.
Hakim said the areas may be acquired under various contract arrangements which could cover production and technical assistance agreements. "In addition, 19 areas of PSC (product-sharing agreements) post-tender are also available for licensing in 2000," he said at an international energy conference.
Oil blocks that have been opened for PSCs include blocks in Tapak Tuan, Sumatra, the Donggala, Taritip and Tanjung Aru blocks in East Kalimantan and the Amborip oil block in eastern Indonesia, he said.
Under Indonesia's production sharing agreements, the government takes 85 % of revenue after cost recovery for oil, and 70 % for gas, with special allowances for frontier areas.

Source: Agence France-Presse via Newspage
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