Bank Mandiri Manage U.S. $ 8 Million / Month of Gas Sales Madura Block

Bank Mandiri will manage the funds amounting to U.S. $ 8 million per month from the sale of gas produced Madura Offshore Block.
"Transactions a month on average they amounted to U.S. $ 8 million would go to the account in which we operate," said Deputy Managing Director of Independent, Riswinandi after the agreement signing ceremony paying agent blocks the sale of gas from the Madura Offshore at Plaza Mandiri, Jalan Gatot Subroto, Jakarta , Tuesday (07/09/2010).
As a paying agent, he continued, Mandiri duty to help channel the results of the gas sales transactions to parties that have an interest in the block. The facility is expected to encourage increased efficiency in business transactions Madura Offshore Block.
"I'll put money into bank accounts created Mandiri, Mandiri and then divide it proportionately," he explained. Meanwhile, Indonesian President Marjolijn Wajong Santos declared the use of banking services from Bank Mandiri to manage sales transactions Madura Block offshore gas will increase their efficiency in supporting business transactions Santos in Indonesia.
"Currently the production from the Madura offshore block alone reached 117 million standard cubic feet per day (MMSCFD) and all sold to PGN," he said.
BP Migas Deputy Head Hardiono said this cooperation is very good to encourage the involvement of national companies in the sector to increase investment in oil and gas industry, which can trigger the growth of national economy.
"The use of such national banking services conducted by Bank Mandiri Santos will also strengthen the reserves and balance of payments for banks," said Hardiono.
The total average production of oil and gas in August 2010 reached 2636 million barrels of oil equivalent per day. Actual oil production amounted to 965 thousand barrels per day. While for the gas, the average production reached 9386 million standard cubic feet per day.
Total transactions KKKS procurement through national commercial banks since April 2009 until July 2010 amounted to U.S. $ 6.47 billion. Of this amount, Bank Mandiri managed transactions reached U.S. $ 4.85 billion. While the number of transactions at the Bank recorded U.S. $ 300.38 million.
Santos (Madura Offshore) is an oil and gas exploration and production company incorporated under South Australian law that the operator of the Madura offshore block. While PC and Petrogas Madura Madura block contractors. In addition to Indonesia and Australia, Santos also manages oil and gas fields in Papua New Guinea, Vietnam, India, Bangladesh, Kyrgyz Republic, and Egypt.
(Epi / dnl)

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