Indonesian Government Signs 14 CBM, Oil And Gas Contracts

The Indonesian government has signed a total of 14 production sharing contracts on coalbed methane as well as oil and gas, generating a total of $68.95 million worth of investment and another $16.9 million of signature bonus revenue.

The 14 contracts comprises nine CBM and five oil and gas deals, a senior government official said Friday.

The government received $16.9 million from signature bonuses, and will get $26.4 million of investment from oil and gas contractors during the first three years of exploration period as well as another $42.55 million from CBM contractors for the first three years of exploration, oil and gas director general at the Energy and Mines Ministry Evita Legowo said.

Those who signed the CBM contacts include BP, which signed four contracts and state-owned oil and gas company Pertamina, which signed three contracts, Legowo said.

Platts