Government Can KKS Gas Bonus U.S. $ 3.5 Million

The Government, through the Ministry of Energy and Mineral Resources (EMR) to get funds from the contract signature bonus cooperation (KKS) of 3 Work Area Gas of U.S. $ 3.5 million.

This was conveyed by Minister of Energy and Mineral Resources, Darwin Zahedy Saleh in a short speech in the middle of the signing ceremony of cooperation agreements on oil and gas field office of the Ministry of Energy and Mineral Resources, Jakarta (17/12/2010).

''With the implementation of this signing, it is increasingly emphasized that the field of oil and gas investments still menggemberikan, in addition to exploration activities will increase,''said Darwin, in his speech.

Darwin also added that this cooperation contract will be able to continue to enhance the discovery of new reserves in order to help achieve the national target. The cooperation contract signed today was for 3 Working Area (WK) oil and gas produced from the regular auction of Phase I in 2010, including:

* South Sokang in the Natuna Sea (by the Consortium of South Sokang Lundin BV and Salamander Energy Limited)
* Sokang in the Natuna Sea (by Black Platinum Investment Limited)
* Wokam II in the Arafura Sea (by Murphy Overseas Ventures Inc.)

Third''Cooperation Contract (KKS) working area is obtained from the regular offerings of Phase I in 2010 which was signed on December 6, yesterday,''said Darwin.

Darwin, in detail, explaining that the commitment must be generated from 3 signing of the Cooperation Contract work area is a geological and geophysical studies of U.S. $ 1.45 million, 2D seismic survey along the 3200 km of U.S. $ 4.5 million, seismic survey 3D area of 1100 km of U.S. $ 14.75 million, and drilling exploration wells as much as 1 well with a value of U.S. $ 7 million.

The total investment of 3''region was U.S. $ 27.7 million. While the signature bonus (Signature Bonus) to be received directly by the government amounted to U.S. $ 3.5 million,''explained Darwin.

In addition to the implementation of the signing of the Cooperation Contract (KKS), the three working areas, carried out also the signing of the Heads of Agreement (HoA) between PT Pertamina is executed by the President Director of PT Pertamina, Karen Agustiawan, together with the Total E & P Activities Petrolieres and Petronas related to cooperation for the processing blocks East Natuna.

source..: detik finance