Indonesia Approves Production Sharing Contracts for Aceh Oil, Gas Blocks
The total investment commitment for exploration from the signing of the production sharing contract for the work area amounts to $30 million.
JAKARTA, KOMPAS.com – Indonesia’s Energy and Mineral Resources Ministry has approved production sharing contracts for two oil and gas blocks in Aceh waters. Energy and Mineral Resources Minister Arifin Tasrif witnessed the signing of the contracts for the Offshore North West Aceh (Meulaboh) Work Area and the Offshore South West Aceh (Singkil) Work Area. "Prior to today's contract signing, the contractor has completed all administrative and financial obligations, those being a signature bonus and submitting implementation guarantees in accordance with the applicable regulations," director gener...