The government of the Republic of Indonesia has officially awarded the Anambas Block Production Sharing Contract (the “Anambas PSC”) to KUFPEC Indonesia (Anambas) B.V., a subsidiary of KUFPEC. The award ceremony took place on Monday, 10 June 2019, in Jakarta, Indonesia.
On behalf of the Indonesian Government, Mr. Dwi Soetjipto, Chairman of SKKMIGAS signed the Anambas PSC, witnessed by Mr. Archandra Taher, the Vice Minister of Energy and Mineral Resources of the Republic of Indonesia. The KUFPEC delegation was represented by Mr. Bader Al-Matar, KUFPEC South East Asia Region (SEAR) Manager, accompanied by the KUFPEC Indonesia Country Manager, Mr. Abdulaziz Al-Mousawi, along with Mr. Muhammad Farhan, Mr. Abdullah Al-Shoraian and Mr. Ichsan Samiron.
The Anambas Block is located in the Natuna Sea, Indonesia, covering an area of 3450 km2. The block neighbors Natuna Block A, a block that KUFPEC has been participating in since the early 1980s. The Anambas Block provides intriguing upside potential due to its strategic geographical location and neighboring fields. The Anambas PSC is the latest Indonesian PSC generation known as the Gross Split PSC. These Gross Split PSCs introduce a new fiscal terms breakthrough by erasing the cost recovery mechanism.
With this historic award, KUFPEC shall regain its status as an operator in Indonesia – a giant step in executing KUFPEC’s 2040 strategy of operatorship.
