Amendment of Mining Contracts

Mar 10, 2014 | Mining

Energy and mineral resources minister Jero Wacik has on Friday (March 7) witnessed the signing of memorandum of understanding (MoU) for the amendment of six contract of works (COWs) and 19 coal contract of works (CCOWs). This is the result of almost three years of...

PGN, Gas Traders & Political Deals

Mar 4, 2014 | Mining, Politics

Some said state-owned gas transmission and distribution company PT Perusahaan Gas Negara (PGAS) Tbk is too profitable to be questioned its operations. With net profit of US$1.75 billion in the past two years and cash in hands of US$1.32 billion, however, lots of deals...

PGN: Performance & Overpriced Acquisitions?

Mar 3, 2014 | Mining

Gas distribution and transmission company PT Perusahaan Gas Negara (PGAS), which recently aggressive in acquiring oil and gas blocks, booked net profit of US$861 million last year, down slightly by 3.4% from 2012 even though its sales revenue increased by 16.4% to...

Chevron’s IDD Project & SBY’s Inner Circle

Feb 25, 2014 | Mining

Indonesia Deepwater Development (IDD), otherwise known IDD Project, is developed by Chevron and its partners through four production sharing contracts (PSCs): Ganal, Rapak, Makassar Strait, and Muara Bakau. There are five gas fields in the project. The most famous is...

Oil and Gas Journal No 03/2014: The Blocks

Feb 24, 2014 | Mining

Nymex crude oil stays above US$102 per barrel in Asian trading. While the commodity might not return to its peak, the sector is still interesting especially with growing energy consumption in Indonesia. In this issue, we will focus on Triangle’s Pase Block, RH...

Lasamphala & Weda Bay: The Other Side of Investments (II)

Feb 24, 2014 | Mining

Once sitting over huge nickel deposits in the border of Central and Southeast Sulawesi provinces, Rio Tinto Ltd had almost left completely the Lasamphala project. It gave options to Canadian-based miining company Sherritt International to get substantial stake in the...

Lasamphala & Weda Bay: The Other Side of Investments (I)

Feb 24, 2014 | Mining

Rio Tinto Ltd and Eramet SA are among major mining companies in the world. They both planned to invest US$5 billion in their respective nickel project in Indonesia. Rio Tinto for the so-called Lasamphala nickel project in Central-Southeast Sulawesi and...

Soeryadjaya/Thohir vs Intrepid/Paloh: A Settlement

Feb 19, 2014 | Mining

Intrepid Mines Limited informed Australia Stock Exchange (ASX) this morning that it has signed binding agreements to settle all disputes surrounding the ownership of the Tujuh Bukit copper/gold project in Banyuwangi, East Java province, Indonesia, which will result in...

Revisiting Timah

Feb 18, 2014 | Mining

Shares of Timah (TINS), the world’s second largest tin producer, ended higher by 3.65% to Rp1420 Monday (February 17) as investors anticipated stronger results in fourth quarter of 2013. Timah booked net profit of Rp374 billion in the quarter, skyrocketing 503%...

Kreasindo Resources & People Behind

Feb 14, 2014 | Mining

PT Kreasindo Resources Indonesia and Iran-based Nakhle Barani Pardis have signed an agreement to build US$3 billion oil refinery in Indonesia, using imported crude oil from Iran as raw material. While we doubt the refinery can be eventually built, given more than 20...