Jadestone Energy PLC - oil and gas producer in Asia-Pacific - Notes Indonesian minister of Mines & Energy issues ministerial decree allocating liquefied petroleum gas sales from the Akatara gas field in the Lemang PSC, onshore Indonesia, to a subsidiary of the national electricity utility, PT Perusahaan Listrik Negara.
"The ministerial decree facilitates the development and commercialisation of the Akatara gas field and also the associated production and sales of LPG to the local domestic market in Jambi, together with condensate sales to a local buyer," company explains.
Company signs heads of agreement for gas sales from its planned development, with PT Pelayanan Listrik Nasional Batam as buyer.
Chief Executive Paul Blakeley says: "I am delighted to have come to this critical milestone and to have obtained the support of both the Minister and SKK Migas in pursuing this important development. Gas from the Akatara field will ultimately be used for electricity generation by PLN, while LPG sales will provide much needed energy directly to the local market to meet domestic cooking requirements for the local population in the Jambi region.
"The ministerial decree facilitates the development of the Akatara gas field and allocates the Lemang gas to meet domestic electricity demand for industrial users in Batam."
The decree and heads of terms specify a gross sales volume of 20 British thermal units per day starting in the first quarter of 2024 and a plant gate sales price of USD5.60 per million British thermal unit.
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By Paul McGowan; paulmcgowan@alliancenews.com
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