Tuesday, October 03, 2006

Santos delivers Maleo gas to PGN

Santos (Madura Offshore) Pty Ltd, a subsidiary of Australia-listed Santos, has started gas supply of 100 MMSCFD from its Maleo gas field in Madura offshore to PT Perusahaan Gas Negara (PGN) Tbk on Sunday, PGN reported to JSX on Monday.

Under the gas contract signed in May 2005, Santos would supply 243 billion cubic feet (BCF) of gas to PGN in 12 years worth US$550 million. PGN then distributes the gas through its transmission pipeline (East Java Gas Pipeline). The gas supply would reduce diesel oil consumption in East Java by 6.75 million kilo liter (KL). As for PGN, the gas supply would boost its distribution volume by 400 MMSCFD or 29% by the end of 2006.
Santos is the holder of 18% participating interest in Brantas PSC operated by Lapindo Brantas Inc. Brantas PSC is in limbo on unstoppable mudflow at Banjar Panji-1 drilling since May 2006.

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