PGN and Premier Oil Tuna Explore Joint Opportunities for Utilizing Natural Gas from the Tuna Block

Jakarta – PT PGN Tbk and Premier Oil Tuna B.V. are exploring a joint opportunity for collaboration regarding the commercialization (sale and purchase) of natural gas from the Tuna Working Area (WK Tuna), located in the Natuna Islands. The Memorandum of Understanding (MOU) also covers the development of natural gas infrastructure to support the utilization of gas from WK Tuna.

This collaboration was formalized with the signing of the MOU between PGN and Premier Oil Tuna, represented by Rosa Permata Sari, PGN's Director of Strategy and Business Development, and Steve Cox, President Director of Premier Oil Tuna, on Tuesday, July 23, 2024. The partnership is expected to be a productive collaborative synergy, leading to shared success in the gas industry.

PGN's Director of Strategy and Business Development, Rosa Permata Sari, stated, "We have been supplying gas to customers from various working areas (WK), but as we know, our current supply sources are declining. While some areas are in surplus, not all are connected by infrastructure. With the opportunity for collaboration with WK Tuna, we are confident that we can strengthen our supply."

As Pertamina's Subholding Gas, PGN hopes to utilize gas from WK Tuna to meet the dynamic supply needs in line with the natural decline of output from some producers. "PGN requires a reliable gas supply from upstream suppliers to be delivered through transmission and distribution pipelines to all customers," said Rosa.

Currently, PGN operates over 12,000 kilometers of natural gas pipelines, serving more than 5,000 commercial and industrial customers, as well as nearly 1 million household customers (city gas). To continue growing, a reliable supply is essential.

Moreover, the opportunity to utilize gas from WK Tuna not only opens the market in Indonesia but also allows PGN to expand into markets in Asia or Southeast Asia.

In the same event, Premier Oil Tuna's President Director, Steve Cox, expressed that the company sees the joint opportunity with PGN as a significant step forward for the WK Tuna project, which aims to supply gas to Indonesia. Premier Oil Tuna is part of Harbour Energy Group, which operates the Tuna Block (KKS Tuna). Thus, the WK Tuna project will also expand Harbour Energy's operations in Indonesia.

"WK Tuna is of great importance to Harbour because it is a key project we want to continue. Despite facing some challenges, we have moved on from those and are excited about the cooperation with PGN," said Steve.

Both PGN and Premier Oil Tuna are committed to optimally executing the collaboration regarding the utilization of gas from WK Tuna. They are hopeful that the cooperation will progress to the realization stage, bringing benefits to both parties as well as to Indonesia.

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