The symbolic signing agreement took place on the sidelines of 2nd International Convention on Indonesian Upstream Oil and Gas (IOG) on December 1, 2021.
According to the agreement, which was signed by PetroChina President Qian Mingyang and PT GJE President Director Tessy Ladina Khairifani Siregar, PetroChina would supply up to 1.44 billion British thermal units per day (BBTUD) of gas to PT GJE. The agreement will be valid from 2021 to 2024. In the same IOG event, PetroChina also signed an amendment of gas sale and purchase agreement with PT Pertamina Patra Niaga.
The gas sales agreement with PT GJE was one of 41 commercial deals taken place during the IOG Convention. Gas commercialization is one of the most important pillars in the achievement of the government’s ambitious production target of 1 million BOPD of oil and 12 BSCFD of gas in 2030.
Over the years, PetroChins has partnered with local companies in gas commercialization projects. In 2015, PetroChina signed a seven-year gas sales deal with state electricity firm PLN in Batam to supply from 10 to 17 BBTU of gas for electricity.