PT Bank Negara Indonesia Tbk is appointed as trustee and paying agent to manage US$18 billion (IDR162 trillion) raised from the gas sale contract of Mahakam Block which involve in three oil-gas companies.
The state-controlled bank will manage the fund for a 10-year period and its Singapore branch will be the paying agent. State-owned oil company PT Pertamina, Total E&P Indonesie and Inpex Corporation are the three oil-gas companies being the contractors of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) of Mahakam Block.
The agreement on the bank appointment was signed by Pertamina Finance Director M. Afdal Bahaudin, Total E&P Indonesie President Director Elisabeth Proust, Inpex Corporation Indonesia Asset Director Corporation Yutaka Inoue and BNI President Director Gatot M. Suwondo.
The agreement on the bank appointment was signed by Pertamina Finance Director M. Afdal Bahaudin, Total E&P Indonesie President Director Elisabeth Proust, Inpex Corporation Indonesia Asset Director Corporation Yutaka Inoue and BNI President Director Gatot M. Suwondo.
Head of Oil and Gas Upstream Operating Agency R. Priyono also attended the signing, which took place on the sideline of a conference and exhibition at Jakarta Conference Hall Wednesday. BNI has received 1% of the transaction amount, a considered good fee from the contractors.
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