Friday, January 29, 2010

5 Oil blocks await ministerial decree

Extension of production sharing contract (PSC) for five oil and gas blocks are pending approval from minister of energy and mineral resources, while one block is being reviewed by the Upstream Oil and Gas Regulatory Body (BPMigas).
The blocks to be extended are Central and South Sumatra PSC (Medco EP Indonesia), Bawean (Camar Resources, Canada), Madura Strait (Husky Oil Madura Ltd), Malacca Block A (Medco E&P Malacca), and West Madura (Kodeco Energy). Meanwhile, PSC for Mahakam Block (Total E&P Indonesie & Inpex) is being reviewed by BPMigas. Pertamina and some local groups are chasing participating interest in the gas-rich block, which supplies Bontang LNG plants. 




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