In the management of Participating Interest (PI) 10% Madura Offshore Block in accordance PP No. 35 year 2004, PT Petrogas Jatim Utama (PJU) as BUMD East Java Province and PT. Wira Usaha Sumekar (WUS) as the BUMD of Sumenep Regency has established a “Special Purpose Company” which is PT. Petrogas Pantai Madura (PPM) to acquire Participating Interest 10% (PI 10%) in PSC Working Area Santos Madura Offshore Block.
The composition of shares in PT. Petrogas Pantai Madura is as follows :
- PT. Petrogas Jatim Utama (PJU – BUMD Jatim) = 25.5 %
- PT. Wira Usaha Sumekar (WUS – BUMD Sumenep) = 25.5 %
- Barito Pacific Tbk (BPT – Pendana) = 49.0 %
Production Sharing Contract (PSC) Madura Offshore Block for 30 years of contract, which will expire in 2027. Gas from Maleo Field and Opportunity is flown to East Java Gas Pipeline (EJGP) to be sold to PGN and PLN.
