July 12, 2019 / 9:20 AM / 8 days ago

Indonesia's PGN inks deal with Repsol to buy gas from Sakakemang block

JAKARTA, July 12 (Reuters) -

* Indonesian gas utility PT Perusahaan Gas Negara (PGN) said on Friday it has signed a memorandum of understanding with a unit of Spain’s Repsol SA to purchase natural gas from Sakakemang block

* PGN may purchase around 400 to 500 billion British thermal unit per day (bbtud) from the block in South Sumatra, it said in a statement

* “This MoU signing is one of our efforts to secure our gas supply for our customers,” PGN’s commercial director Danny Praditya said

* Indonesia’s deputy energy minister Arcandra Tahar said in April that Repsol, which leads the consortium for Sakakemang block, is moving up its start of production target by 2 years after finding an estimated 2 trillion cubic feet of gas resource in Sakakemang block (Reporting by Wilda Asmarini, Writing by Fransiska Nangoy; Editing by Rashmi Aich)

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