Senin, 02 Mei 2011

Oil and Gas Exploration in East Aceh (Indonesia)


PT Medco E & P Malaka who gets control of Block A license extension in East Aceh has finally announced the launching of the commencement of exploration activities of OIL and gas  at the end of this year.

In addition, the commencement of operation of OIL and gas exploration in Block A is also highly expected by PT Pupuk Iskandar Muda (PIM). Fertilizer company based in the city of Lhokseumawe it has signed a contract with PT Medco E & P Malaka to supply 110 million cubic feet of gas per day (mmscfd) for approximately five years. Because of all this, PT PIM should bring gas supplies from outside Aceh transported by cargo ship.

Medco's commitment was conveyed President Director / CEO of PT Medco E & P Malaka, Budi Basuki in the greeting ceremony launching the start of projects of OIL and gas field Block A and the implementation of community development programs

Budi added that the investment area of Block A in East Aceh require funds worth $ 600 million. While the need for opening of an oil well requires USD 10 million or equivalent to Rp 180 billion. also will open a new OIL wells into reserves for the future.

East Aceh Regent, Muslim Hasballah said, the oil and gas mining concessions covering 15 districts of 24 districts in East Aceh. Of the 15 districts, most of the region oil and gas sub-sectors within the concession area of PT Medco E & P Malaka or so-called Block A. While PT Pacific OIL & Gas in District Rantau Peureulak and PT Triangle Pase Inc. located in District Pante Bidari.

Minggu, 01 Mei 2011

Mover Oil Prices


Mover Oil prices have equality as factors driving the gold price, it is important for us to consider these factors in order to assist in identifying opportunities in managing transaction activity.

Some fundamental factors that are essential for oil we observe. So as to move the crude oil prices dramatically:

1. Offers and supplies

Level of supply or supply of oil in the world is the most fundamental factor. The decline in oil prices caused by the swelling of very sharp crude oil stocks. When the oil producing countries start reducing their production, oil demand would continue to rise.

Political tensions that occur in regions or countries, especially the oil producing Middle East region, based on historical records, has affected the price of crude oil in the world market. Any interference that could affect oil supplies either real or just a rumor can affect prices dramatically.