President agrees to Maluku request on Masela block
Sat, June 9 2012 18:49 | 1778 Views
Ambon, Maluku (ANTARA News) - President Susilo Bambang Yudhoyono has responded positively to the request by Maluku provincial government to receive a 10 percent interest in the Masela Bloc management.
"Maluku will get 10 percent participating interest of Rp400 trillion worth of gas exploitation in Masela Block in 2017, or about Rp40 trillion, for the improvement of local people`s welfare," President Yudhoyono said here on Saturday.
The head of state then urged Inpex Corporation, the main shareholder of Masela Block management, to speed up the exploration.
"The exploration of Masela Block should be sped up in order to be exploited in 2017," the president noted.
Meanwhile, Maluku Governor Karel Albert Ralahalu asked President Yudhoyono to remind the energy and mineral resources minister to immediately sign the 10 percent participating interest for Maluku.
According to the governor, the production sharing contract with Inpex Corporation was signed on November 16, 1998, granting Inpex 30 years of exploration and exploitation rights.
Results of Inpex Corporation exploration shows that Masel Block currently has gas reserves of 14 trillion cubic feet, and its development is expected to be completed between 2018 and 2019.
Therefore, Governor Ralahalu sent a letter to President Yudhoyono in February 2012, hoping that Energy Minister Jero Wacik would soon sign the agreement for 10 percent interest of Masela Block. (*)
Editor: Aditia Maruli
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