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Jumat, 18 Februari 2011

Ramba Secures Higher Gas Price from PGN - The Indonesia Today

Ellipse Energy Jatirarangon Wahana Ltd, a subsidiary of Ramba Energy Limited, has secured 69.9% price hike for gas supplied to PT Perusahaan Gas Negara (PGAS) Tbk.

Ramba told SGX this morning that Ellipse Energy Jatirarangon Wahana Ltd has been notified by PT Pertamina Exploration & Production that it has concluded a variation of the gas sale and purchase agreement between TAC Pertamina-Ellipse Energy Jatirarangon Wahana Ltd and PT Perusahaan Gas Negara (Persero) Tbk (PGN) dated 26 July 2004, which will result in a significant adjustment to the gas sale price from US$2.55 per MMBTU to US$4.332 per MMBTU; representing an increase of 69.9% in the gas sale price (the “new gas sale price”).

EEJW owns a 70% participating interest in, and is the operator of, a technical assistance contract covering the Jatirarangon Block, an oil and gas-producing field located in Cikarang, West Java, Indonesia. The new gas sale price will take effect from 1 April 2011 and it will be subject to an escalation rate of 3% per annum.
Posted by Saham Pilihan at 10.42

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