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Ann: Sengkang Power Plant, page-43

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ifandwhen

1,145 Posts.

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18/09/22

23:37

Post #: 63763358
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Originally posted by Aesi: ↑

No LNG and no power generation, then the gasfield is worth zip - which may explain why Bakrie paid nothing for its share of the PSC.

I am really struggling to see how SE and BA can turn this around.

Does the PSC require minimum offtakes from the gasfield, or minimum baseline payments? Or minimum investments into the gasfield maintenance/development? What assumptions regarding the PPA underlie the PSC renewal? What PSC contractual requirements will be breached by the lost cashflow?

The thing is that the Indonesian government is not a neutral player - especially with respect to its aims, or the aims of Indonesia players, vis a vis an Australian firm. Even if local demand requires the electricity to be generated, and/or the gas to be produced, the Indonesians will set it up so the fruits of the investment go to the locals if they can.

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afaik Bakries paid zip for the 49% PSC in exchange for development work on the field. There is a seismic program over a period they have to do and there could be physical additions to the existing field as well within the period before their % rises to 51%.

EWC Price at posting: 5.3¢ Sentiment: Hold Disclosure: Held
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