PetroChina takes multiple measures to ensure gas supply to Indonesia

Cooperative Contractor (KKKS) PT PetroChina International Jabung Ltd (PCJL) continues its efforts to secure the supply of natural gas in Indonesia, especially to meet the industrial demand and household gas network (jargas).This is part of PetroChina's efforts to sign three gas purchase and sale agreements (PJBG) with the Jabung Block PSC on Friday (June 21, 2024) . The partnership was signed during the Gas Forum 2024, held in Bandung from June 19-21, 2024, under the theme "Creating Synergy in Gas Infrastructure and Markets in the Context of Optimizing National Gas Uptake. The signing of the Jabung Block PJBG is a form of government's trust in PetroChina International Jabung, which is the company's true commitment to maintaining and realizing the country's energy security," said PCJL's Vice President of Business Support. Of the three cooperation agreements signed, the first is PCJL's cooperation with PT Pertamina Hulu Rokan, with a total contract value (TJK) of 69,750 TBTU and a contract validity period from March 8, 2023 to December 31, 2026; the second is the cooperation with PT Gemilang Jabung Energi, with a total contract value (TJK ) is 20,832 TBTU and the contract validity period is from February 27, 2023 to December 31, 2026; and third is the cooperation with PT Perusahaan Gas Negara Tbk with a total contract amount (TJK) of 1,475.6 MMSCF, which is valid from December 16, 2022 to February 26, 2043.

In addition to this, previously PetroChina International Jabung and PGN signed a Memorandum of Understanding (MoU) on November 25, 2022 for the sale and purchase of natural gas from the Jabung Block PSC.PGN will be using PetroChina Jabung's gas supply to meet the growing demand for natural gas in Batam. PetroChina International Jabung's gas supply to PGN is to meet domestic gas demand and is part of PetroChina's efforts to help create a favorable economic ecosystem by providing a stable supply of gas at competitive prices. The venture is also cooperating with PT Pertamina Hulu Rokan (PHR) for gas supply and signed a Memorandum of Understanding (MOU) on June 17, 2021, for steam drive operations in Rokan block in Riau Province.Vice President of SKK Migas expressed his appreciation for the collaboration and cooperation of all the participants in the Gas Forum 2024, and conveyed SKK Migas' commitment to optimize gas production to meet domestic demand in order to increase the multiplier effect and the national economy. This commitment needs to be balanced with the certainty of commercialization of gas potential to achieve the gas production target of 12 BSCFD (billion standard cubic feet per day). He hoped that the KKKS and gas buyers would support this commercialization strategy and share the same view, as the market would be formed only when there was an understanding and agreement on supply and demand.