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- News |
May 03, 2005 - PT Pacific Oil & Gas Indonesia (PO&G) is carrying out its business development plan in Indonesia’s energy sector, particularly upstream development, LNG plant and CCGT power plant. Initial investment on upstream oil and gas sector was done through the acquisition of 25% share in Jambi Merang Block (JM) in 2004. Currently, JM is awaiting approval for its revised Plan of Development (POD) to increase gas production to 120mmscf/d. The new gas supply can support the increasing demand in Sumatra and Batam. The investment for JM development will be about US$300 million. PO&G is evaluating and negotiating some other blocks, in order to implement further investments in upstream field development in Indonesia. PO&G has also obtained principle approval from the Government of Indonesia to build an initial 5 MTPA LNG Plant. The LNG Plant Project will not only be dedicated for export market but can also supply the Receiving Terminals in Java. Besides that, PO&G is planning to build CCGT Power Plants, to anticipate for future power demand increase and substitution from oil fuel to gas fuel. Susilo Soputro, the Vice President Director, said that PO&G is very attracted by the many investment opportunites in Indonesia’s energy sector, from upstream to LNG to power, and hope to announce more investments in the future. Through its investments in Indonesia, PO&G will support the energy policy of the Government to increase domestic gas supply and utilisation. |