O&G Direct Tender Round I Announced, Firm Commitment and Signature Bonus at USD21 million

MINISTRY OF ENERGY AND MINERAL RESOURCES

REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 307.Pers/04/SJI/2021

Date: 3 September 2021

O&G Direct Tender Round I Announced, Firm Commitment and Signature Bonus at USD21 million

Director General of Oil and Gas of Indonesian Ministry of Energy and Mineral Resources (EMR), Tutuka Ariadji, on Friday (3/9) announced the Winners of Direct Oil and Gas Work Area Tender Round I of 2021 during the 45thIndonesian Petroleum Association (IPA) Convention & Exhibition in Jakarta. According to Tutuka, there were four Oil and Gas Work Areas on offer, i.e. South CPP, Sumbagsel, Rangkas, and Liman.

Based on the results of Participation Documents evaluation, which then were set out in Decision of Minister of EMR, the winners of the Direct Tender for Conventional Oil and Gas Work Areas Round I of 2021 are as follows:

A. Winners of Direct O&G Work Area Tender, Round I

No.	Work Areas	Winners
1.	South CPP	PT ENERGI MEGA PERSADA Tbk
2.	Sumbagsel	N/A
3.	Rangkas	N/A
4.	Liman	Husky Energy International Corporation

B. Firm Commitment and Signature Bonus

No	Work Areas	Winners	Firm Commitment for First 3 Years		Signature Bonus (US$)
			Activities	Total Amount (US$)
1.	South CPP	PT Energi Mega Persada, Tbk.	G & G Study 2D Seismic 500 km 3D Seismic 50 km2 1 Exploration well	13,600,000	500,000
2.	Liman	Husky Energy International Corporation	- G & G Study - 2D Seismic 400 km	6,700,000	200,000

The total firm commitment from the 2 work areas amounted to USD20,300,000 and the signature bonus stood at USD700,000.

The other two work areas without winners, i.e. Sumbagsel and Rangkas, will become Available Work Areas. These areas can be evaluated for re-tender in the next auction, or they can be proposed as joint study areas.

In addition, the Regular Oil and Gas Work Areas Tender Round I of 2021 is still ongoing. There are 2 Work Areas on offer, i.e. Merangin III and North Kangean. Access to Tender Documents is open until October 12th 2021, while submission of Participation Documents is open from October 12th to October 14th 2021. (IY)

Head of Bureau of Communication, Public Information Services, and Cooperation

Agung Pribadi (08112213555)

Share This!