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Company Profile
1. PT Terra Global Vestal Baturaja is the sole interest holder and operator of
the North Baturaja Block, onshore South Sumatra. The Government of
Indonesia awarded the Block to TGVB by signing the PSC (Production Sharing
Contract) on December 19, 2011 for a period of 30 years.
2. The first 3- year Firm Commitment is totally US$ 15,650,000 that consist of
programs as listed in Table-1.
Table-1: Firm Commitment
Year
Program
1 2012
G&G Study
2 2013
3 2014
Total
Budget
US$
500,000
US$
8,000,000
US$
500,000
US$
6,000,000
US$
650,000
US$
15,650,000
3. The Boundary of the Block. North Baturaja Block covers an area of 4,295
sq. km. To the west is bounded by Pasiriaman Block of JOB Pertamina-Golden
Spike (currently producing around 1,200 BOPD with an estimated total
reserves of 10,000 MMBO, Prabumulih Block of Pertamina EP (20,000 BOPD,
250 MMBO in > 15 fields) , Ogan Komering Block of JOB Pertamina-Talisman
(8,000 BOPD, 50 MMBO in 5 fields) and Air Komering Block of Cahaya Baturaja
(at exploration stage). The area east of the block is open as shown in Figure1.
Figure 1: Index Map The Boundary of the Block