Total chases Papua oil & gas block

Total SA is in serious talks related to the acquisition of ConocoPhillips' participating interest in Warim oil and gas block, Papua. This is part of the company's expansion plans in Indonesia. State-owned oil and gas company Pertamina is also looking into Warim acquisition.

Warim PSC was signed in May 1987. This is an onshore exploration block in an area of Papua that covers 5795 square miles. ConocoPhillips owns 80% participating interest in the block, while Santos Pty Ltd holds the remaining balance. ConocoPhillips is the operator of the block. 

ConocoPhillips also owns 100% Amborip VI PSC, 60% in Kuma PSC, and 100% in Arafura Sea PSC. These blocks were awarded in the period of 2006-2008. Conoco's producing assets are Block B PSC, South Natuna Sea (40%), Corridor Block PSC (54%), and South Jambi "B" PSC (45%).

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Rig Tenders join forces with Marco Polo

Marco Polo Marine Ltd has entered into a JV agreement with PT Rig Tenders to penetrate the offshore oil and gas marine segment.

Marco Polo told Singapore Stock Exchange (SGX) this morning that the collaboration mechanism will be formalized between MP Ventures, a subsidiary of Marco Polo Marines Ltd, and Rig Tenders respectively through a 30:70 controlled entity, which will participate in selected offshore oil and gas opportunities, including vessel ownership and chartering services.

Rig Tenders is a 80.54%-owned subsidiary of Scomi Marine Berhad, listed in Malaysia Stock Exchange, engaging in business of owning and operating marine vessels serving the logistic needs of coal and oil/gas segments. Rig Tenders' major customers are Adaro, Arutmin, Chevron, CNOOC, and Total Indonesia.

Marco Polo Marine Ltd is a growing integrated shipping group principally engaged in the ship chartering and shipyard businesses. The group's shipyard which provides ship building, ship repair, and conversion services, is located in Batam Island, Indonesia, occupying a total land area of approximately 348,705 square meters, with a seafront of approximately 650 meters. The group is expanding the shipyard, and when completed, this would be one of the largest shipyards in Batam.

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PQ for Senipah gas-fired power plant

State-owned electricity provider PT Perusahaan Listrik Negara (PLN) kicks off pre-qualification for Senipah gas-fired power plant project in East Kalimantan.

The gas-fired power plant will have 2x40 MW capacity as an independent power producer (IPP) project where investor will develop, finance, construct, and operate it on a build-own-operate (BOO) basis pursuant to a long-term power purchase agreement (PPA) up to 30 years.

Investors is also required to finance and construct the associated 150 kV transmission line, which will be transferred to PLN as a special facility.

Late last month, PT Total E&P Indonesia and Inpex Corporation signed gas sales agreement (GSA) with Perusahaan Kelistrikan dan Sumber Daya Energi (PKSDE), a company owned by Kutai Kartanegara administration to supply 20 MMSCFD of gas for 20 years. PKSDE and PT Toba Sejahtera are partners in the plan to build Senipah gas-fired power plant.

According to the GSA, buyer will pay US$3.5/MMBTU plus 3% raise every year for the period of 2011-2017, while for the period of 2018-2031, gas price will be US$4.5/MMBTU plus 3% raise per year and 30% of any electricity price hike to charged to PLN.

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