First, the Restructuring of the Business Is Running Smoothly

PT Pertamina (Persero) ensures that the restructuring process of the company is carried out according to what is customary in the business world. Currently, the restructuring process is still in a transition period to ensure Pertamina and the entire group business are ready for the next process. 

Blogger Agus Purnomo in SKK Migas

    SVP Corporate Communication & Investor Relations of Pertamina Agus Suprijanto said Pertamina restructuring is a mandate for shareholders that must be realized. In the process, management always considers strategic aspects, procedures, and handling of all company assets, including employees, in accordance with applicable legal regulations.

"The company restructuring carried out by Pertamina currently has common practices in efforts to improve company performance and efficiency, as has happened in various other global energy companies. When restructuring, the company also goes through a transition period, "said Agus.

Agus said the legal position or legal standing regarding the formation of a holding and group business is clear. Regarding assets, Agus confirmed that until now there has been no transfer of Pertamina's assets to other group businesses or subsidiaries. 

    The status of the management of the work area of ​​the upstream subsidiary that has contracted with the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) remains the same. Agus said regionalization was carried out to coordinate and ensure that upstream oil and gas operations were integrated so that operations would be more efficient.

Agus denied accusations that Pertamina's restructuring had hampered operations and strategic projects. According to him, so far all business processes and operations from upstream to downstream have been running well.

"This shows that Pertamina's business processes are fine, not messy. In terms of work procedures, management has also issued regulations governing workflow and authority during the transition period, ”said Agus.

Regarding refinery revitalization and construction, Agus said, until now the refinery development master plan and grass-root refinery (RDMP / GRR) projects are still ongoing according to predetermined stages. In general, all projects showed clear progress and went well with management monitoring.

"The restructuring process is carried out in stages. In the current transitional period, we ensure that all restructuring preparations are complete, ”said Agus.

The Ministry of State-Owned Enterprises (BUMN) stated that Pertamina's restructuring was carried out to answer the needs of the oil and gas industry. Special Staff to the Minister of BUMN, Arya Sinulingga, said that the energy sector continues to undergo transformation or change, which demands that Pertamina be able to adjust. There are five sub holdings that have been formed, including the upstream sub-holding whose operations are held by PT Pertamina Hulu Energi (PHE).

Then, there is PT Perusahaan Gas Negara (Persero) Tbk as a gas sub-holding and refinery and petrochemical sub-holding run by PT Kilang Pertamina Internasional. Power and NRE sub-holding (PT Pertamina Power Indonesia) and commercial and trading sub-holding (PT Patra Niaga). The shipping company operation is held by PT Pertamina International Shipping.

Republika, Page-9, Monday, Oct 26, 2020

Nominations for Seven CSR Programs PEP Asset 4 CSR Award 2020

 

PT Pertamina EP (PEP) Asset 4 has again successfully submitted 7 Corporate Social Responsibility (CSR) programs in the prestigious Nusantara CSR Award 2020 event initiated by La Tofi School of Corporate Social Responsibility (CSR).

Ramayana Terrace Hotel Indonesia Kempinski Jakarta

    This event was held differently from the previous year due to the impact of the CoVid-19 Outbreak, so this award was held online and offline which coincided at Ramayana Terrace Hotel Indonesia Kempinski Jakarta.

La Tofi School of Corporate Social Responsibility (CSR)

La Tofi explained that this award event is an appreciation of the work programs that have been carried out by companies both government, state-owned or private institutions that have a commitment and contribution to environmental sustainability and community empowerment.

This award will motivate the public relations function at Pertamina EP (PEP) Asset 4 to be able to always deliver quality CSR programs and have a direct impact on the people in need.

Duta Masyarakat, Page-6, Monday, Oct 26, 2020

Additional Pertamina Split Awaits the Approval of the Minister of EMR

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) stated that PT Pertamina (Persero) 's split changes in several of its oil and gas blocks are still waiting for the approval of the Minister of Energy and Mineral Resources (ESDM).

Blogger Agus Purnomo in SKK Migas

However, this additional split has the potential to increase oil reserves by 120 million barrels and gas by 1.7 trillion cubic feet. Deputy of Planning for SKK Migas, Jaffee Suardin said that discussions regarding the proposed additional split of Pertamina in several of its oil and gas blocks have now reached the final stage. Furthermore, to realize the additional split, his party needs approval from the Ministry of Energy and Mineral Resources.

"It needs approval from ESDM because there will indeed need to be something approved by the Minister of EMR," he said.

Jaffee revealed that the proposed additional split was through long discussions with his party. The reason is that this proposal was initiated by his party's efforts to seek oil and gas potential that could be developed but had not yet been included in Pertamina's long-term plan. Furthermore, his party issued a recommendation to the Ministry ESDM.

"We want to try it in the future, for 1-2 months, so that we can finish it," he said.

According to him, this additional split has the potential to generate oil and gas reserves for Indonesia without having to wait for exploration activities to be carried out. Not only that, but this step will also increase the economy of the oil and gas block for up to 10 years.

"What is being discussed now is to add approximately 120 million barrels of oil reserves and 1.7 trillion cubic feet of gas," said Jaffee.

He said the additional split proposal did not end only for Pertamina. His party will continue to look for oil and gas potentials in other working areas that can be developed in the future.

"The point is, the more aggressive and efficient," he added.

Previously, Director of Development and Production of PT Pertamina Hulu Energi (PHE) Taufik Aditiyawarman said that his party had proposed an additional split for the Mahakam Block and the Sanga-Sanga Block. In addition, his party is still reviewing the proposed changes to the results of the East Kalimantan Block, Offshore North West Java (ONWJ), and Offshore Southeast Sumatra (OSES). These five blocks are termination blocks managed by the company.

Deputy of Monetization and Finance of SKK Migas, Arief S Handoko, revealed the potential for increased gas production from oil and gas blocks in East Kalimantan or the East Kalimantan System. This is after the incentives being proposed by Pertamina for the Mahakam, Sanga-Sanga, and East Kalimantan blocks. The existence of incentives will encourage more massive operations and well drilling activities.

the Mahakam Block

"In 2021, the Mahakam Block could reach more than 500 million standard cubic feet per day / MMScfd, not yet from the others," he said.

Taufik had said that if the profit-sharing was improved, his party was committed to increasing the production of the oil and gas block.

"Of course, with a better economy, it will maximize the monetization of the potential in the oil and gas block, increase reserves and future production," he said.

Pertamina signed a production sharing contract / PSC) for the Sanga-Sanga Block, East Kalimantan, and the OSES Block with a gross split scheme in 2018. Likewise, the amendment to the Mahakam Block PSC uses a cost recovery investment scheme. The ONWJ Block contract was signed in 2017.

Referring to the contract, Pertamina's profit-sharing in the SangaSanga Block is set at 49% for oil and 54% for gas. Meanwhile, in the East Kalimantan-Attaka Block, the company gets 61 percent for oil and 66 percent for gas. Furthermore, Pertamina's profit-sharing in the OSES Block is set at 68.5% for oil and 73.5% for gas.

In the ONWJ Block, Pertamina previously obtained additional splits through ministerial discretion and changes to the gross split scheme. Initially, Pertamina's profit-sharing in this block was 57.5% for oil and 62.5% for gas. At the end of 2017, this revenue-sharing amount increased to 73.5% for oil and 81% for gas. The five termination blocks worked by Pertamina are included in the list of 10 largest oil and gas producers in Indonesia. 

    Referring to SKK Migas data, the realization of oil lifting in the Mahakam Block was recorded at 29,361 barrels per day (BPD) from the Revised State Budget (APBN-Amendment) target of 25 thousand BPD and 558 MMScfd of gas from the target of 510 Mmscfd.

Furthermore, the oil lifting of the ONWJ Block was 28,893 BPD from the target of 27,500 BPD and gas 71 MMScfd of the target of 58 MMScfd. Following are the achievements of OSES Block oil lifting of 26,542 BPD from the target of 24,010 BPD, East Kalimantan 9,862 BPD from the target of 11,380 BPD, and Sanga-Sanga 12,515 BPD from the target of 12,030 BPD.

Investor Daily, Page-9, Saturday, Oct 24, 2020

Nicke Widyawati is in the rank of the 16 most influential women in the world

 

Global business media, Fortune named Pertamina's President Director Nicke Widyawati as the Most Powerful Woman in the World 2020. Nicke was ranked 16 out of 50 women in the world who were considered to have the ability to control the company they lead. Fortune assessed that Nicke was able to handle a state-owned company with annual revenue of more than US $ 54.6 billion and 32,000 workers worldwide.

Nicke Widyawati

Nicke's ability to control the company was strengthened by the government's trust to re-elect him to lead the company's transformation into a holding company in the oil and gas sector. In response to this, Nicke was grateful and received positively for Fortune's coronation as one of the most influential women in the world by Fortune. Nicke considered that Fortune's ranking was an appreciation not only for herself but also for the entire Pertamina team.

Pertamina 

According to Nicke, as the top level of leadership at the national state-owned oil and gas company, he has the responsibility to ensure Pertamina continues to provide energy for the nation and state and to bring Pertamina as a global energy company that is the driving force for national economic growth.

"The challenges of the future of energy are in sight, and we still prioritize service to the nation, community service, and respond to global energy challenges. This position is the result of the hard work of all elements in Pertamina and also the support of all stakeholders and the Indonesian nation, ”said Nicke.

Fortune also considered Nicke Widyawati as the President Director of Pertamina very worthy of being ranked 16 because he was able to innovate in controlling the company during the Covid-19 pandemic so that Pertamina's losses could be suppressed, far better than other global oil and gas companies.

Fajriyah Usman

VP of Corporate Communication of Pertamina, Fajriyah Usman, said that this list was an annual ranking that specifically highlighted the most influential women in international-based business. Mrs. Nicke Widyawati is the only Indonesian woman on the list of 50 Most Influential Women iN Fortune's 2020 world.

Fortune also placed Pertamina's Managing Director ahead of the CEOs of various well-known companies in the global arena, such as Temasek, which is the largest state-owned company in Singapore, Shell, a Dutch multinational oil and gas company, and other leading CEOs such as Unilever, PepsiCo, Novartis, Puma Energy, Starbucks, Morgan Stanley , etc.

"This achievement makes Pertamina and Indonesia proud. Mrs. Nicke has represented all women in Indonesia in world recognition, "said Fajriyah.

Fajriyah believes this recognition will be an inspiration and role model for all Pertamina employees to continue to work hard to provide energy and bring Pertamina as a global oil and gas company. The concern of Pertamina's Board of Directors, the Board of Commissioners, and all levels of Pertamina's management is how to manage a company that can produce the best performance that can contribute to the nation and state.

"We hope that international trust will continue to increase in Pertamina, which carries a vision as a world-class national energy company and is able to face the global energy challenges going forward," said Fajriyah.

Investor Daily, Page-10, Friday, Oct 23, 2020

The Efficiency of the Rokan Block Oil Pipeline Project

    PT Perusahaan Gas Negara Tbk (PGN) has made the efficiency of the oil pipeline project in the Rokan Block a new standard for infrastructure projects it undertakes, especially in implementing National Strategic Projects (PSN). 

    President Director of PGN Suko Hartono stated that the PGN Group is committed to striving for the best support for PT Pertamina's Oil and Gas Holding so that the transition process for the management of the Rokan Block runs smoothly and can increase the achievement of financing efficiency.

The Rokan Block

    In principle, the Rokan oil pipeline project is an effort to boost efficiency in Indonesia's energy budget, in line with the government's efforts to reduce oil imports. In addition, the Rokan Pipe project is an effort to support the Government's program in increasing the lifting and effectiveness of oil distribution from the Rokan Block, which is the backbone of national petroleum production, as well as one of the largest oil blocks in Indonesia.

    With competence in developing oil and gas infrastructure and distributing energy both natural gas to all sectors, PGN seeks to improve the effectiveness and efficiency of energy distribution. The Rokan oil pipeline is one of the biggest energy projects this year which has successfully implemented a budget efficiency of Rp 2.1 trillion.

    This is in line with pandemic conditions that require a high level of efficiency in the implementation of investment and operation activities. In addition, the Rokan oil pipeline project also involves 60% of local workers, so that it can provide great benefits to the surrounding community for economic recovery during the pandemic. The estuary of this investment operation is also aimed at driving the wheels of the regional and national economy.

"Regarding the selection of partners and partner schemes for the Rokan Oil Pipe Construction Project, the process is still under internal review by Pertagas as a subsidiary of PGN. PGN as the parent and Subholding Gas is committed to the implementation and completion will be on time. As for project implementation, it is adjusted to the ongoing process, and in accordance with project implementation rules. We appreciate the attention of many parties regarding this national strategic project to take place immediately and we ensure that the project preparation process is nearing its final stage so that it can be implemented immediately, "said Suko Hartono.

    Suko explained that the financing scheme for the Rokan Pipe construction project had been carried out in accordance with a study of the economic principles of a project. The review process is carried out in accordance with internal procedures that have involved elements of the Board of Directors and Board of Commissioners by prioritizing GCG principles.

    PGN is open to safe reporting through a whistleblower mechanism if there are things that are not in accordance with the principles of GCG in the company. With this mechanism, the reporter is guaranteed protection if he finds or suspects non-transparent activity at PGN. 

    Reporting obtained from the Whistle Blowing System (WBS) mechanism will receive attention and follow-up, including the imposition of appropriate penalties or sanctions in order to provide a deterrent effect for perpetrators of violations and for those who intend to do so. PGN opens access to reporting on actions that are detrimental to the company/environment/community through https://wbs.pgn.co.id

Investor Daily, Page-10, Thursday, Oct 22, 2020

To Increase Liquefied Natural Gas Business, PGN Collaborates with JCCP

    PT Perusahaan Gas Negara Tbk (PGN) is working with the Japan Cooperation Center Petroleum (JCCP) to study and improve the gas value chain, especially the liquefied natural gas / LNG business. The target is that the two parties will agree on a Joint Project according to the existing business potential.

    PGN's Director of Strategy and Business Development Syahrial Mukhtar said this collaboration also aims to promote the development of natural gas management technology. Through this cooperation, the increase in the gas value chain or LNG business is carried out based on the experience of Inpex, one of the Japanese oil and gas companies under the auspices of JCCP, with the Naoetsu model. The collaboration of JCCP, Inpex, and PGN is expected to increase capabilities and optimization in more real cooperation in the future.

Inpex Corporation

"In the next three years, the topic of the Joint Project will be mutually agreed upon according to existing business needs and potentials," he said.

    He explained that Naoetsu itself is the name of Inpex's LNG terminal. Through this model, study the technical, operational, business, and safety aspects of the Naoetsu Terminal can be one of the bases for learning and implementing collaborative natural gas projects in Indonesia. 

    In this collaboration, JCCP as the executor will prepare a work plan, project implementation schedule, and estimate the number and project description for this year. According to him, for 2020-2021, there are two collaborations with the JCCP, namely the Naoetsu Seminar and the Technical Cooperation Program.

"This year's Technical Cooperation Program is the LNG Joint Study in Arun Aceh and LNG bunkering throughout Indonesia. In its implementation, this joint study involves INPEX, which is a partner of PGN in the supply of LNG to Myanmar through the Arun Terminal, "explained Syahrial.

    The Naoetsu Seminar program is targeted to introduce Inpex's natural gas value chain and obtain technical studies on the operations of the Naoetsu Terminal which is located in Nagaoka, Japan. The operational technical study of the Naoetsu LNG Terminal includes underground gas storage in Nagaoka, operational safety, and health at the LNG terminal and pipeline, as well as other commercial issues in the gas business in Japan.

    Inpex is the largest oil and gas company in Japan with global exploration, development, and production projects in 20 countries. Meanwhile, JCCP is a government organization under the auspices of the Ministry of Economy, Trade, and Industry (METI) in Japan and consists of oil and gas companies. 

    Syahrial said that this collaboration was because PGN was looking for partners to implement a Joint Project to improve the domestic natural gas value chain. Meanwhile, Japanese industrial engineering is considered qualified, both in knowledge and technology related to gas chain modernization.

"Until finally this Joint Project was proposed with the JCCP," he said.

Investor Daily, Page-10, Tuesday, Oct 20, 2020

PGN Supports the Regional and National Economy in the Rokan Oil Pipe Project

    The PT Perusahaan Gas Negara Tbk (PGN) group is committed to providing the best support for the Oil and Gas Holding of PT Pertamina (Persero) so that the transition process for the management of the Rokan Block runs smoothly and can increase the achievement of financing efficiency. This was done through the implementation of the Rokan Oil Pipe National Strategic Project (PSN).

    In the construction of the Rokan Oil Transmission Pipe, PGN is targeting to have a positive impact on regional development. This is because the development of this national strategic project involves more than 60% of the scope of construction and local manpower.

"With the development that involves local resources, it is hoped that the multiplier effect will be able to contribute significantly to increasing human resource capacity and transfer of knowledge in the regions," said PGN President Director Suko Hartono.

    According to Suko, empowering local entrepreneurs and workers also supports the economic empowerment of local communities during times of crisis. Then the knowledge transfer that is expected to occur can provide benefits in human resource management, especially in the aspects of technological and commercial understanding in the construction of the Rokan Oil Pipe.

"The construction of the Rokan Oil Pipeline Project is a strategic project that is full of risks and costs a lot, so it requires increased mastery of technology and a good understanding of the commercial aspects. These two aspects are the main benchmarks so that the results can be optimal and provide broad benefits, "added Suko.

    Through PT Pertagas as the executor of the construction, cooperation has been made in the procurement of steel pipe material for the Rokan Oil Pipe with PT Krakatau Steel. From this collaboration, it is targeted to reduce the cost of material procurement by 16% and provide added value to the domestic steel industry because it is an effort to increase the use of domestic products (P3DN).

the Rokan by Chevron

"In principle, the construction of the Rokan Oil Pipe is an effort to boost efficiency in the energy budget in Indonesia, in line with the government's efforts to reduce oil imports. "With a Capex value (capital expenditure) of US $ 300 million, the efficiency optimization obtained is the US $ 150 million or around Rp 2.1 trillion, because the initial Capex allocation value was the US $ 450 million," said Suko.

PT Chevron Pacific Indonesia (CPI)

    This project was built to maintain the resilience of energy production after transferring the management of the Rokan Hulu Block from PT Chevron Pacific Indonesia (CPI) in 2021.

"The PGN group as Pertamina's Subholding Gas is committed to being part of the solution for national energy fulfillment. With our competence in developing oil and gas infrastructure and distributing energy both natural gas to all sectors, we strive to improve the effectiveness and efficiency of all energy supply chains. In addition, the implementation of investment operations is always aimed at moving the wheels of the regional and national economy, especially in a very challenging period during the current pandemic economic recovery, "said Suko.

Investor Daily, Page-10, Monday, Oct 19, 2020

Kadin Connects Oil and Gas Business Entrepreneurs with Shell

    The East Java Chamber of Commerce and Industry (Kadin) continues to strive to revive the economy of East Java, one of which is by opening up opportunities for entrepreneurs to invest in the oil and gas sector with Shell Indonesia. Previously, the East Java Chamber of Commerce and Industry has also been bridging entrepreneurs in East Java to partner with Pertamina Lubricant.

The East Java Chamber of Commerce and Industry (Kadin)

    East Java Kadin Chairman Adik Dwi Putranto said that although currently, it is still in a pandemic condition, the potential for the oil and gas business is still very attractive and potential. This is because the movement of people and goods is still necessary to maintain the stability of the economy and the country as a whole.

Shell Indonesia

"At the start of the pandemic, the oil and gas business also dropped dramatically due to the implementation of the Large-Scale Sausage Restriction (PSBB) policy in a number of regions. However, currently, it has increased and in East Java, it is close to normal. For this reason, we are very interested in Shell's desire to open up opportunities to do business in oil and gas. Because in these conditions any business opportunity must be tried. This is what is needed and there are already some friends who are thinking about expanding or shifting to other businesses. The East Java Kadin encourages entrepreneurs in East Java to seize these opportunities, "said Adik Dwi Putranto during the East Java Kadin Talk with the theme" The potential of the energy business in the new normal era.

    According to him, these opportunities become more attractive when entrepreneurs find it easy to do business.

"This is the concern of the East Java Chamber of Commerce and Industry. We will try to guard these opportunities into reality. Because there are actually many opportunities but there are also many obstacles, for example in terms of licensing, "he said.

Bhirawa, Page-10, Monday, Oct 19, 2020

Bekasi Oil and Gas Company was Sued

YAR Law Firm Attorneys at Law as the attorney for Foster Oil & Energy Pte Ltd (plaintiff) filed a lawsuit of default against the Bekasi City Oil and Gas Company (defendant) at the Bekasi District Court with registration number 418 / Pdt.G / 2020 / PN.Bks dated 29 September 2020. In the press release received by Media Indonesia, there are several points of concern.

First, the plaintiff and defendant made and agreed on a joint operating agreement for the management of Jatinegara Field on January 13, 2011, which was amended three times. Therefore, both the memorandum of understanding and the joint operation agreement, including the amendments, must be obeyed by the parties.

Second, the defendant did not comply with the contents of the joint operating agreement, including the amendments, but through its main director took several extreme actions, in the form of terminating or canceling it unilaterally which was only submitted through Letter Number 049 / B / PD.MGS / IX / 2020 dated 21 September 2020 regarding JOA Cancellation and Letter Number 088 / SRR & Partners / 09/2020 dated September 22, 2020.

In addition to the defendant's unilateral action, the defendant arbitrarily dismissed the existing KSO general manager and appointed himself as the Acting Officer of the General Manager KSO PT Pertamina EP - PD Migas Bekasi City/defendant as contained in PD Migas Letter Number 054 / B / PD.MGS / IX / 2020 regarding the Termination of GM KSO dated 22 September 2020 and PD Migas Letter Number 055 / B / PD.MGS / IX / 2020 regarding Announcement dated 22 September 2020.

In fact, it is clear that it has been stipulated in the joint operation agreement including the amendments that it is not permissible to terminate the existing agreement unilaterally and the replacement of the general manager of the KSO in implementing the KSO as the head of the operational team is actually the agreement between the plaintiff and the defendant.

Third, the defendant's actions did not create security and comfort for companies that invested their business capital in Indonesia in the case of Foster Oil and Energy Pte Ltd because the legal interests were not guaranteed, which was an important thing the investment company was willing to invest in Indonesia.

Previously, VP legal & Relations Pertamina EP Cholid said that his party was not aware of the report of the Indonesian Corruption Eradication Society Coalition (Kompak) to the Corruption Eradication Commission (KPK) regarding alleged corruption committed by Foster Oil & Energy, a company originating from Singapore that helped management. Jatinegara Oil and Gas Field, Bekasi, West Java. Even so, he emphasized that Pertamina EP will investigate the allegations until they are finished.

Media Indonesia, Page-4, Thursday, Oct 15, 2020

SKK Migas - Inpex Completes Metocean Service Visit for Abadi LNG Project

    SKK Migas together with KKKS INPEX Masela, Ltd. has successfully completed a metocean service visit for the Abadi LNG Project during the Covid-19 pandemic in the waters of the Abadi Field in the Arafura Sea, without any Covid-19 transmission and without any work accidents. 

    The NV NMS Brilliance ship, which departed from Jakarta for the Abadi Field area on September 13 with its personnel and crew for this metocean service visit, arrived back in Jakarta on October 9. The metocean service visit was carried out without having to dock at the port in Tanimbar Islands Regency, Maluku to undergo quarantine.

Blogger Agus Purnomo in SKK Migas

"With this new innovation, inspection and maintenance of 17 marine metocean stations and data collection related to metocean can be done more quickly, which will then be processed and analyzed," said SKK Migas Operations Deputy Julius Wiratno.

Julius Wiratno

    In more detail, the main activities carried out during the metocean service visit are taking, checking, and maintaining equipment and sensors at the metocean observation station, as well as downloading and verifying data and data storage systems, to re-installing sensors and equipment to the metocean observation station.

    Julius said that the metocean service visit activity during the Covid-19 pandemic was very troublesome so there must be new innovations from SKK Migas and Inpex in doing so, such as implementing service visits without anchoring at the Maluku port, enforcing and monitoring anti-COVID 19 health protocols according to World Health Organization standards. (WHO) is strict with the personnel and crew of the ship every day both before leaving, while onboard, and after completing the service visit.

"This success sets a good precedent for the implementation of upstream oil and gas activities in other oil and gas fields during the Covid-19 pandemic," he said.

    Vice President Corporate Services Inpex Masela, Ltd Henry Banjarnahor appreciates the success of this metocean service visit and thanks SKK Migas for its strong support for the implementation of metocean service visits during the Covid-19 pandemic, as well as to the Maluku Provincial Government and Regency Governments. Tanimbar Islands for their extraordinary support so that the metocean service visit took place smoothly and on time.

"This encourages us that other innovations can be planned and carried out after a very careful study, while still paying attention to the established health protocols," said Henry.

    The Abadi Masela project is planned to have a production capacity of 1,750 MMSCFD (9.5 MTPA LNG and 150 MMSCFD of pipeline gas). SKK Migas targets that the Abadi Masela Project is scheduled to produce in 2027.

Investor Daily, Page-10, Monday, Oct 12, 2020