The Ministry of Energy and Mineral Resources (ESDM) signed contracts for the gross split of Selat Panjang PSC in Riau with PT Sumatra Global Energi and Zamatra Bakau Straits Ltd. This PSC contract will run for 20 years. The exploration commitment for this PSC is valued for US$74 million and a signature bonus of US$5 million. As the operator, Zamatra Bakau Straits holds 75% participating interest in said PSC, while Sumatra Global Energi holds the rest 25%.
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