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Indonesia signs new contracts for three oil and gas blocks

The Indonesian government on Monday signed contracts with three oil and gas companies to operate South Andaman, South Sakakemang and Maratua oil and gas blocks.

Mubadala Petroleum Holding RSC Ltd will operate South Andaman block off the shores of Indonesian Aceh Province.

A consortium led by Spain’s Repsol SA signed the contract to operate South Sakakemang block in South Sumatra. Repsol already made discovery in a nearby Sakakemang block, according to Greg Holman of Repsol Indonesia.

Maratua block in Kalimantan will be operated by a unit of state energy firm PT Pertamina.

The three contracts have a combined signature bonus of $6 million and all three contracts will use a gross split scheme.

On Monday, the government also converted Sebatik block’s cost recovery contract with Star Energy Sentosa Ltd, into a gross split scheme.
Source: Reuters (Reporting by Wilda Asmarini, Writing by Fransiska Nangoy; editing by Emelia Sithole-Matarise)

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