Total E&P Indonesia, subsidiary of oil & gas giant Total S.A., expects gas production at the Mahakam block (located offshore in East Kalimantan) to decline about 12.8 percent (y/y) in 2017 to 1,430 million standard cubic feet per day (mmscfd) from an estimated 1,640 mmscfd in 2016. Arividia Noviyanto, Vice President Human Resources, Communication, and General Services at Total E&P, informed that the decline in gas production is partly explained by better-than-expected output at the Mahakam block in 2016.
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On 5 April 2015, Indonesia Investments released the latest edition of its newsletter. This free newsletter, which is sent to our subscribers once per week, contains the most important news stories from Indonesia that have been reported on our website in the last seven days. Most of the topics involve economic matters such as an analysis of March inflation, the new letter of credit (L/C) policy for key commodity exports, the appointment of Pertamina as operator of the Mahakam block, and more.
The government of Indonesia will soon decide on the future of the Mahakam oil and gas block in East Kalimantan. The existing contracts to operate the block will expire in 2017 and therefore the government needs to make a decision about the future operator(s). The current operators of the Mahakam block are Total E&P Indonesia (subsidiary of France-based oil and gas giant Total S.A.) and Japanese oil company Inpex Corporation. Both companies have a 50 percent stake in the Mahakam block.
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Indonesia’s state-owned energy company Pertamina and local governments will become the new operators of the Mahakam oil and gas block (located offshore in East Kalimantan) after existing contracts of current operators end on 31 December 2017. The Indonesian government announced on Friday (19/06) that it is to grant Pertamina a 70 percent stake in the Mahakam block, Indonesia’s largest oil and gas block. The current operators of the block are French oil giant Total SA and Japan-based oil firm Inpex Corp, each owning a 50 percent stake.
Sudirman Said, Indonesian Minister for Energy and Mineral Resources, announced that state- owned energy company Pertamina will become the new operator of the offshore Mahakam oil & gas block in East Kalimantan starting from 1 January 2018, replacing current operators Total E&P Indonesia (the local unit of France-based Total S.A.) and Japan-based Inpex Corporation as existing contracts expire in 2017. The Ministry, Pertamina, Inpex and Total met on Friday (27/03) to discuss the transition process.
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