Gross Split PSC’s West Ganal and Pangkah Blocks Signed
MINISTRY OF ENERGY AND MINERAL RESOURCES
PRESS RELEASE
NUMBER: 624.Pers/04/SJI/2019
Dated: 18th October 2019
Gross Split PSC's West Ganal and Pangkah Blocks Signed
Acting Director General of Oil and Gas Djoko Siswanto today, Friday (18/10), witnesses the signing of Gross Split Production Sharing Contracts for West Ganal and Pangkah Blocks between SKK Migas and PSC Contractors at the Heritage Building, Secretariat General of Ministry of EMR.
The West Ganal Block results from the Conventional Oil and Gas Blocks Offer Phase II of 2019 which winner was announced on 26 August 2019. The block is located in Makassar Strait, while the Gross Split contract lasts for 30 years.
Block
Contractor
Firm Commitment & Signature Bonus
West Ganal
- Eni West Ganal Limited (40%) as Operator
- PT Pertamina Hulu West Ganal (30%)
- Neptune Enegy West Ganal B.V. (30%)
First 3-Year Firm Commitment
G & G; Acquisition of 2D Seismic Data of 600 km; Acquisition of 3D Seismic Data of 600 km2; and 4 exploration wells.
Total Firm Commitment : USD159,300,000
Signature Bonus : USD30,100,000
Meanwhile, the Gross Split PSC of Pangkah Block is a renewal for a period of 20 years which will become effective from 8 May 2026.
Block
Contractor
Firm Exploration Commitment & Signature Bonus
Pangkah
- Saka Indonesia Pangkah Limited (65%) as Operator
- Saka Indonesia Pangkah BV (25%)
- Saka Pangkah LLC (10%)
First 5-Year Firm Exploration Commitment
5 G&G Studies; Acquisition of 3D Seismic Data of 500 km2; and 4 exploration wells.
Total Firm Exploration Commitment : USD64,052,969
Signature Bonus : USD6,000,000
The Participating Interest owned by the Contractors of the Pangkah Block includes 10% Participating Interest to be offered to Regional Government-Owned Enterprises.
The total signature bonus of the Gross Split PSC's of West Ganal Block and of Pangkah Block amounts to US$ 36.1 million. The total investment (Firm Exploration Commitment of West Ganal Block and of Pangkah Block) amounts to US$ 223,352,969. (IY)
Head of Bureau of Communication, Public Information Services, and Cooperation
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