SKK Migas Welcomes PT Pandawa Prima Lestari PSC Cooperation With GDTC International

The signing of a Memorandum of Understanding (MoU) between PT Pandawa Prima Lestari and the Investor Group of Development, Technologies and Construction Companies - GDTC International. (Photo: Doc. SKK Migas)

JAKARTA - The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) witnessed the signing of a Memorandum of Understanding between PT Pandawa Prima Lestari and the Group of Development, Technologies and Construction Companies - GDTC International, on Thursday 27 May.

Secretary of SKK Migas, Taslim Z. Yunus said, the development of this project will not only increase oil and gas production to achieve Vision 2030, but also a tangible manifestation of the national upstream oil and gas industry in fulfilling national energy to support sustainable development, drive the local economy and absorb labor.

"SKK Migas welcomes the cooperation of PSC Pandawa Prima Lestari with the Investor Group of Development, Technologies and Construction Companies - GDTC International, which declares itself as an investor developing projects based on a green economy, renewable energy and sustainable development in line with the framework conventions. United Nations on climate change," said Taslim in a statement received on Friday, June 4.

He hoped, he continued, that this Memorandum of Understanding would soon be followed up by both parties with an environmentally friendly development program for the Wain Working Area, East Kalimantan.

"Global demands that prioritize green energy should not place Indonesia's upstream oil and gas industry in activities that must be avoided, because in carrying out activities, the Indonesian upstream oil and gas industry requires KKKS to pay attention to good environmental management, requires KKKS to plant trees in watersheds and operating areas, and the last one is requiring zero flaring. We support the creation of a clean environment and efficient use of energy for the nation's future," said Taslim.

PT Pandawa Prima Lestari (PPL) which is a Cooperation Contract Contractor (KKKS) strongly supports the SKK Migas program to achieve oil production of 1 million BOP per day and gas 12 billion SCF per day in 2030 which is in line with the energy sufficiency and security program. This is as stated in Presidential Regulation Number 22 of 2017 concerning the General National Energy Plan.

PPL sees that the Rp2.25 trillion collaboration with the Group of Development, Technologies and Construction Companies - GDTC International is an opportunity to realize this support.

GDTC International has a Green Energy vision to see the strategic value of the Wain Block managed by PPL. Apart from the fact that gas is the cleanest fuel among other fossil fuels, GDTC International is also considering the location of the Wain Block which is close to the planned location of Indonesia's new capital city.

In addition, it is also adjacent to Refinery Unit 5 Balikpapan which is implementing the Refinery Development Master Plan (RDMP). The proximity of this location increases the competitiveness of the Wain Block gas production to meet the increasing energy needs of the new Capital City and Refinery Unit 5.

The signing was carried out by His Excellency and Honorable Sharif Moulay Sidi Al Sultan Ahmad Bin Zuhir Bin Mohammad Bin Jaber Al Natour - Diplomat Investor and the Chairman and the President of Group of Development, Technologies and Construction Companies, GDTC International and JDC Buddy Beer as President & General Manager from PT Pandawa Prima Lestari, witnessed by Dwi Djoko Winarno from PT Kaliori Engineering as a partner of GDTC International in Indonesia.

"We will use this investment to finance the development program of the Wain Block, Karamba and Mentawir Fields so that they can produce 100-120 million SCF per day by 2023 and are expected to be our contribution to National Energy Security through meeting the needs of Refinery Unit 5 for natural gas. which will increase after the RDMP is completed in 2023," said JDC Buddy Beer.

The investment cooperation plan will involve the Main Investor, namely Billion Sow Holdings Ltd, represented by Douglas Andrews, Executive Director, Chairman of the Board of Directors, with Fund Manager Groupe De Societes Pour Le Development Les Technologies et La Construction (GDTC), which represented by His Excellency and Honorable Sharif Moulay Sidi Al Sultan Ahmad Bin Zuhir Bin Mohammad Bin Jaber Al Natour.

The recipient of the investment is PT Pandawa Prima Lestari (PPL), represented by the President and General Manager, JDC Buddy Beer.