Indonesia Today by Yosef Ardhi  
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• IPO to Watch: Samudra Energy Oil And Gas

Samudra Energy Ltd, an oil and gas investment company established by Northstar Pacific Group eight years ago, is moving closer to launch an initial public offering (IPO) of its shares on the stock exchange of Singapore. Samudra is reportedly seeking up to US$250 million proceeds from the IPO. Prospects?

• New Century Energy Enters Indonesian CBM Industry Oil And Gas

New Century Energy Resources Ltd (NCE) has entered into agreement with ASX-listed NuEnergy Gas Limited to develop coal-bed methane (CBM) projects in Indonesia. NCE's manouver boosted NuEnergy Gas' shares by 92.31% on Friday.

• Hashim's Oil & Gas Business & Prabowo's Rhetorics Oil And Gas

President candidate Prabowo Subianto enjoys attacking opponents of selling the country's resources to foreign entities and that the annual leakages reached US$100 billion. Unfortunately, his own brother Hashim Djoyohadikusumo sold out Rombebai block (Papua) and South Madura Block (East Java) to Australia-listed company AED Oil Ltd.

• Chevron & Hatta Rajasa's Business Oil And Gas

National media quoted Amien Rais, patron leader of National Mandate Party (PAN), late last year saying Chevron, Freeport, and ExxonMobil as companies like VOC, which colonize Indonesia. A company controlled by Hatta Rajasa---vice president candidate and chairman of PAN, however, gets significant business from Chevron over the years.

• Oil & Gas Acquisitions Update Oil And Gas

KrisEnergy Asia Holdings BV, subsidiary of SGX-listed KrisEnergy Ltd, has entered into a sale and purchase agreement with Premier Oil Overseas BV to acquire its indirect 41.67% working interest in Block A Aceh production sharing contract (PSC) for US$40 million. Giken Sakata (S) Limited, meanwhile, is in discussion to vary the terms of the acquisition of Cepu Sakti Energy Pte Ltd. 

• Mahakam Block: Prabowo vs Jokowi Oil And Gas

President candidates Prabowo Subianto and Joko Widodo have not made direct statement about the future of Mahakam Block, the largest gas producing block in Indonesia at the moment, which is operated by Total EP (France) and co-owned with Inpex (Japan). Hashim Djoyohadikusumo, brother of Prabowo, who has some interests in oil and gas business, however, said Prabowo would hand the block over to state-owned company Pertamina. 

• Bracing For Bigger Oil-Gas Deficit? Oil And Gas

By 2020, Indonesia will become a net importer of natural gas, government predicted. And because Indonesia's consumption of oil continue to grow, our deficit in oil and gas could balloon and endangering the trade balance and State Budget in the coming years. We can only prevent that from happening if some major natural gas projects enter commercial operation as scheduled. 

• NZOG & Indonesian Partners Oil And Gas

ASX-listed New Zealand Oil & Gas (NZO) Ltd is member of a consortium won non-conventional oil and gas block MNK Kisaran in Sumatra through direct offer mechanism recently. This strengthens NZO's presence in Indonesia's oil and gas industry. It might grow further alongside the political changes in the coming months.

• Medco Returns to Tunisia, So? Oil And Gas

Shares of oil and gas producer Medco Energi International (MEDC) advanced 0.15% to Rp3355 Monday (June 16) following the company’s announcement to acquire Storm Ventures International (BVI) Ltd, which owns participating interest in eight working blocks in Tunisia, for US$114.03 million. Implications?

• McDermott, Encona Inti & Chevron's IDD Project Oil And Gas

A consortium of McDermott International Inc and PT Encona Inti Industri has been notified as the successful bidder in the tender process for an engineering, procurement, and construction (EPC) for the giant, yet controversial, US$12 billion Gendalo-Gehem project developed by Chevron. The project, also known as Indonesia Deepwater Development (IDD), was among those politically-connected projects mentioned in corruption cases emerged out of the arrest of then SKKMigas head Rudi Rubiandini.

• PGN's Acquisitions & Margins Oil And Gas

State-owned gas distribution and transmission company PT Perusahaan Gas Negara (PGAS) Tbk, which recently aggressive in acquiring upstream oil and gas assets at home and overseas, booked net profit of US$176.7 million in the first quarter of 2014, dropped by 30.3% from the corresponding period of last year. The company's liabilities jumped 77% in the period, but sales revenue grew only 15%.

• Oil & Gas Investments Update Oil And Gas

The government of Indonesia has revised down its oil lifting target from 870,000 barrels per day to 818,800 bpd due to the expected delay of some oil and gas projects, including ExxonMobil-operated Cepu Block. Corporations in this report: Chevron, Pertamina, Sugih Energy, Surya Esa Perkasa, and Lion Energy.

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