Author: Hatman Bintang

Transocean Awarded $99 Million Contract in Indonesia

Posted by | January 5, 2012 | , , | 0 |

JAKARTA (Indonesia Today) – GSF Parameswara has been awarded a two-year contract extension for work offshore Indonesia at a dayrate of $136,000 or about $99 million contract backlog. Transocean, owner of the rig, said Parameswara’s prior contract dayrate was US$122,000. Transocean provided no further information about the customer. Earlier reports, however, pointed to Total Indonesie, operator of Mahakam Block in East Kalimantan, as customer of GSF Parameswara until December 2012. Transocean is a leading provider of offshore contract drilling services for oil and gas wells. The company owns or has partial ownership interests in, and operates a fleet of, 111 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters, nine High-Specification Jackups, 32 Standard Jackups and one swamp barge....

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NuEnergy Claims High Gas Content in Muara Enim Block

Posted by | January 5, 2012 | , | 0 |

SYDNEY (Indonesia Today) – NuEnergy Ltd claims high gas content from Well #2 lab test at the Muara Enim PSC, South Sumatera. “Gas in coal content of up to 141 standard cubic feet per ton of coal is said to infer a reasonable gas content level with which to support the planned development of a pilot production well at the Muara Enim site. Construction of surface dewatering and gas separation facility is currently underway,” the ASX-listed company claimed. Methane content from gas produced tested at between 98% and 99%. NuEnergy stated the gas confirms high purity found in the Muara Enim PSC coal seams and after extraction the gas is saleable needing minimal conditioning, significantly improving the economics of production. The confirmed coal seam thickness of between 19 and 24 meters combined with gas content are positive indication for resource development economics. “Additional testing to determine permeability oand gas/water content and quality of the Suban and Mangus coal seams will commence shortly. Immediately following the cased-hole permeability testing of the coal seams, dewatering at the pilot well #2 is scheduled to commence in September 2012,” the company said. NuEnergy holds a 40% interest and is operator of Muara Enim PSC through its subsidiary PT Trisula CBM Energi....

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BHP Prices EUR2 Billion and GBP1.75 Billion Bonds

Posted by | January 5, 2012 | , | 0 |

SYDNEY (Indonesia Today) – BHP Billiton, the world’s largest mining company, has priced a two tranche Euro bond and a two tranche Sterling bond under its Euro Medium Term Note Program. The Euro bond issue comprises EUR1,250 million 2.250% bonds due 2020 and EUR750 million 3.250% bonds due 2027. ??The Sterling bond issue comprises GBP750 million 3.250% bonds due 2024 and GBP1,000 million 4.300% bonds due 2042. “The proceeds will be used for general corporate purposes and in part, redemption of the group???s commercial paper program,” BHP said this morning. BHP Billiton shares down 0.96% to A$33.89 to make its market capitalization at A$180.4 billion. The stock has dropped 15% from its peak late last year....

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Tembang Gold Project to Generate $738 Million Revenues

Posted by | January 5, 2012 | , , | 0 |

SYDNEY (Indonesia Today) – Sumatra Copper & Gold Plc has completed the pre-feasibility study for Stage 2 of its 100%-owned Tembang gold project in Sumatra. The project is predicted to generate gross revenues of US$738 million. According to the pre-feasibility study, total project net cash flow will be around US$222 million, while overall project C1 cash cost at around US$43 per ounces after silver credits. Stage 2 pre-production capital expenditure is estimated at US$40 million, while the earliest start date of mining is brought forward by three years to 2015.?? Stage 1, meanwhile, is expected to generate US$261 million of revenues. Combined with Stage 2’s US$477 million revenues, Tembang project is expected to generate US$738 million of revenues.?? The study is based on US$1,500 per ounce of gold and US$30 per ounce of silver prices. Gold is currently traded at US$1,778 per ounce. (bintang@theindonesiatoday.com)...

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Intraco Postpones Coal Mining Acquisition

Posted by | January 5, 2012 | , , | 0 |

JAKARTA (Indonesia Today) – Heavy equipment and mining contractor PT Intraco Penta (INTA) Tbk has decided to postpone the acquisition of coal mining this year, Investor Daily reported this morning.?? Intraco CFO Fred Manibog told the paper that poor prices of commodities has triggered the delay even though the company has identified some targets. Coal prices in Newcastle Port, Australia, have dropped to below US$90 per ton in recent weeks. Intraco has earlier expressed its intention to acquire a coal mine in East Kalimantan. The company has established new subsidiary PT INTA Resources for the purpose. Intraco also plans to launch an initial public offering (IPO) of its financing subsidiary PT Intan Baruprana Finance (IBF), but only after its assets reached Rp4-5 trillion. IBF’s total asset is currently Rp1.6 trillion. (bintang@theindonesiatoday.com)...

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