KODECOKorea Development Company
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The WMO block, of which Pertamina owns 80% with the remaining stake owned by Kodeco, has produced 20,000 b/d of crude oil in 2014, up from 6,300 b/d recorded in January 2013.
Indo Kodeco Cement--were merged into ITP as part of its program to restructure its debts with an approval from a Steering Committee named by its creditors that included Bank of America, Marubeni, The Chase Manhattan Bank, The FujiBank, Banque Nationale de Paris and Bank of Tokyo Mitsubishi.
* INDO KODECO CEMENT, PT (Portland cement manufacturing)
Contract with Kodeco Excess Gas and Perusahaan Gas Negara (PGN) will expire in October 2010, and with Kodeco Existing Gas will end in May 2011.
PKG hopes to forestall the problem with conversion coal energy, by seeking additional gas supply from Kodeco and renew contract with Kodeco, PGN and KEI.
The company has sought to sort out the problem such as through conversion of gas to coal energy, additional gas supply from Kodeco and extension of the contracts with Kodeco and KEI.
Two of the sales and purchase agreements were for gas supply to fertilizer factories between Kodeco Energy and PT Petrokimia Putra in East Java, and between PT Pertamina EP and PT Pupuk Kujang, in West Java.
They include PT Pertamina with partners (6 JOB and 24 TAC), BP Indonesia (Tangguh), ConocoPhillips (Corridor Block) and ConocoPhillips Blok B (Natuna), Energy Mega Persada (East Java), Premier Oil and Medco (SS-CS), Kodeco (East Java), Amerada Hess (Ujung Pangkah), CNOOC, JOB-Amerada Jambi Merang, Santos (Maleo), Star Energy (Kakap), Energy Equity, Medco Lematang, Santos (Oyong), Medco Sumatra (Rimau) and Kalila Bentu+Kalila Korinci Baru,
BP Migas has sought to accelerate development of new gas fields including Ujung Pangkah Gresik, which is operated by Amerada Hess), Oyong and Maleo operated by Santos, Wunut by Lapindo Brantas, KE by Kodeco and BD Madura block by Exxon Mobil.
The factory in Tarjun was originally owned by a Korean company PT Kodeco and the only factory in Kalimantan.
Some PSC contractors also operating small scale gas fields such as Energy Equity, Exspan, Eksita, Santa Fe, Lapindo Brantas, Kondur and Kodeco. Small scale gas fields are scattered in many areas in Indonesia, including in Central Sumatra, West Java, East Java, South Sulawesi and Central Sulawesi.
For example, Kodeco from South Korea already carried out seismic studies.