Cooperation Contractor (KKKS) PT PetroChina International Jabung Ltd (PCJL) continues its efforts to secure Indonesia's natural gas supply, particularly to meet industrial demand and household natural gas networks (jargas).This is part of PetroChina's efforts, one of which includes signing three Natural Gas Sales and Purchase Agreements (PJBG) with the Jabung Block PSC on Friday (June 21, 2024). The cooperation was signed during the 2024 Gas Forum held from June 19 to 21, 2024, in Bandung, under the theme "Synergy in Building Natural Gas Infrastructure and Market in the Context of Optimizing National Natural Gas Absorption." PCJL's Vice President of Business Support stated that the signing of the PJBG for the Jabung Block is a form of the government's trust in PetroChina International Jabung, and it is also the company's real commitment to maintaining and achieving national energy security. Among the three cooperation agreements signed, the first is between PCJL and PT Pertamina Hulu Rokan, with a total contract value (TJK) of 69,750 TBTU, valid from March 8, 2023, to December 31, 2026; the second is with PT Gemilang Jabung Energi, with a total contract value (TJK) of 20,832 TBTU, valid from February 27, 2023, to December 31, 2026; and the third is with PT Perusahaan Gas Negara Tbk, with a total contract value (TJK) of 1,475.6 MMSCF, valid from December 16, 2022, to February 26, 2043.
In addition, previously PetroChina International Jabung and PGN signed a Memorandum of Understanding (MoU) on November 25, 2022, regarding the sale and purchase of natural gas from the Jabung Block PSC. PGN will use PetroChina Jabung's natural gas supply to meet the growing gas demand in Batam Island. The supply of natural gas from PetroChina International Jabung to PGN is intended to meet domestic natural gas demand and is part of PetroChina's efforts to help create a healthy economic ecosystem by providing stable natural gas supply and competitive prices. The company has also collaborated with PT Pertamina Hulu Rokan (PHR) for natural gas supply and signed an MoU on June 17, 2021, for steam flooding operations in the Rokan Block, Riau Province. The Vice President of SKK Migas expressed appreciation for the collaboration and cooperation of all participants in the 2024 Gas Forum and conveyed SKK Migas' commitment to optimizing natural gas production to meet domestic demand in order to enhance multiplier effects and the national economy. This commitment needs to be balanced with certainty in the commercialization of natural gas potential so that the natural gas production target of 12 BSCFD (billion standard cubic feet per day) can be achieved. He hopes that KKKS and gas buyers can support this commercialization strategy and share the same perspective, as the market will only form when supply and demand reach understanding and agreement.
Cooperation Contractor (KKKS) PT PetroChina International Jabung Ltd (PCJL) continues its efforts to secure Indonesia's natural gas supply, particularly to meet industrial demand and household natural gas networks (jargas).This is part of PetroChina's efforts, one of which includes signing three Natural Gas Sales and Purchase Agreements (PJBG) with the Jabung Block PSC on Friday (June 21, 2024). The cooperation was signed during the 2024 Gas Forum held from June 19 to 21, 2024, in Bandung, under the theme "Synergy in Building Natural Gas Infrastructure and Market in the Context of Optimizing National Natural Gas Absorption." PCJL's Vice President of Business Support stated that the signing of the PJBG for the Jabung Block is a form of the government's trust in PetroChina International Jabung, and it is also the company's real commitment to maintaining and achieving national energy security. Among the three cooperation agreements signed, the first is between PCJL and PT Pertamina Hulu Rokan, with a total contract value (TJK) of 69,750 TBTU, valid from March 8, 2023, to December 31, 2026; the second is with PT Gemilang Jabung Energi, with a total contract value (TJK) of 20,832 TBTU, valid from February 27, 2023, to December 31, 2026; and the third is with PT Perusahaan Gas Negara Tbk, with a total contract value (TJK) of 1,475.6 MMSCF, valid from December 16, 2022, to February 26, 2043.
In addition, previously PetroChina International Jabung and PGN signed a Memorandum of Understanding (MoU) on November 25, 2022, regarding the sale and purchase of natural gas from the Jabung Block PSC. PGN will use PetroChina Jabung's natural gas supply to meet the growing gas demand in Batam Island. The supply of natural gas from PetroChina International Jabung to PGN is intended to meet domestic natural gas demand and is part of PetroChina's efforts to help create a healthy economic ecosystem by providing stable natural gas supply and competitive prices. The company has also collaborated with PT Pertamina Hulu Rokan (PHR) for natural gas supply and signed an MoU on June 17, 2021, for steam flooding operations in the Rokan Block, Riau Province. The Vice President of SKK Migas expressed appreciation for the collaboration and cooperation of all participants in the 2024 Gas Forum and conveyed SKK Migas' commitment to optimizing natural gas production to meet domestic demand in order to enhance multiplier effects and the national economy. This commitment needs to be balanced with certainty in the commercialization of natural gas potential so that the natural gas production target of 12 BSCFD (billion standard cubic feet per day) can be achieved. He hopes that KKKS and gas buyers can support this commercialization strategy and share the same perspective, as the market will only form when supply and demand reach understanding and agreement.
