South CPP, Liman Blocks under Cost Recovery Contracts

MINISTRY OF ENERGY AND MINERAL RESOURCES

REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 311.Pers/04/SJI/2021

Date: 4 September 2021

South CPP, Liman Blocks under Cost Recovery Contracts

The Indonesian Ministry of Energy and Mineral (EMR) has announced the winners of the Oil and Gas Blocks Direct Tender Round I of 2021. Of the four blocks put out to tender, blocks South CPP and Liman were awarded to the winners under a Cost Recovery Production Sharing Contract (PSC).

The South CPP block was awarded to PT Energi Mega Persada, Tbk. The firm commitment for the first three years as offered in the bid includes G&G study, 500 kilometer of 2D seismic study, 50 km2 of 3D seismic study, and 1 exploration well, with a total value of USD13,600,000.

"Congratulations to the winner of the South CPP block, PT Energi Mega Persada. It offers a signature bonus of USD500,000 and a firm commitment for the first three years with a total value of USD13.6 million," said Director General of Oil and Gas, Tutuka Ariadji, during the 45th Indonesian Petroleum Association (IPA) Convention & Exhibition in Jakarta on Friday (3/9).

Husky Energy International Corporation won the Liman block, with a signature bonus of USD200,000 and a firm commitment for the first three years in the forms of G&G study and 400 km 2D seismic study worth a total of USD6.7 million.

"Congratulations to the winners! I hope this will send a positive signal of Indonesia's upstream oil and gas investment amid the current global challenges," said Tutuka.

The other two blocks, namely Sumbagsel and Rangkas, will have an available status. These blocks will be evaluated and tendered out at the next auction. They can also be proposed as a joint study area.

On the same occasion, Tutuka said that the Regular Tender for Oil and Gas Blocks Round I of 2021 was still ongoing. There are two blocks on offer, namely Merangin II and North Kangean. Access to the Tender Documents is open until October 12, 2021, while submission of Participation Documents is open from October 12 to October 14, 2021. (IY)

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

Agung Pribadi (08112213555)

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