Tag: stakeholders

Raise Martabe Gold Mine Production Target

Published / by jiukuaiy

Martabe Gold Mine revised gold production target for this year to 280,000 ounces from 250,000 ounces in advance only.
“The revised production target after seeing the results of increased production,” said President of G-Resources Martabe Gold Mine, Peter Albert, in Medan on Wednesday.
Ability to increase production above nameplate capacity design shows the efficiency of operational management success since it started trial production July 24, 2012.
“Management continues to be engaged to develop Martabe become one of Asia’s leading gold mines that contribute positively to the stakeholders in the vicinity,” he said.
He explained that the management can reduce operational cost to 510 U.S. dollars per ounce during the quarter due to mining activities and ore treatment plant that has exceeded production targets.
“The results of over 200,000 ounces of gold and nearly one million ounces of silver that have been produced so far beyond expectations,” he said.
Income earned from the sale of G-Resources gold and silver during the second quarter reached 98.5 million U.S. dollars is very encouraging that company.
Associated with increased production and income, then of course the tax increase.
“Martabe Gold Mine has paid dues remain (dead rent) and the UN Semester II in 2013 to the State Treasury 247,911.52 worth of U.S. dollars to an area of ​​1,639 km2 by the Sixth Generation Contract of Work (” CoW “) which was signed in April 1997,” he said.
Besides taxes, there is a royalty to the state for sale 63106.52 ounces (1,963 kg) of gold and 355,233.08 ounces (11,049 kg) of silver valued at 482,298.10 dollars.
Referring to Law 33 of 2004 on Fiscal Balance between the Central Government and Local Government, the percentage share of exploration and exploitation fees fees (royalties) divided by the details of the center section 20 per cent, 16 per cent of the provincial, regency / city producing 32 percent of the district and parts / other city in the province 32 per cent.

Semester I, Oil Production Reaches 99 Percent

Published / by jiukuaiy

JAKARTA – Special Unit Managing Upstream Oil and Gas (SKK Migas) said state revenue from the management of upstream oil and gas in the first half of this year reached $ 18, 7 billion from USD18.4 billion target set for the first half year .

While oil production in the same period, managed to achieve an average of 831 118 barrels per day (bpd), or 99 percent of the target set in the state budget in 2013 amounted to an average of 840,000 barrels of oil per day.

Rudi Rubiandini SKK Migas chief, said the achievement of the national oil production up to 99 percent of the budget target has never happened within the last three years. Previous achievements continue to be under 99 percent.

“The successful achievement of oil production and revenues is the result of the hard work of the workers in the oil and gas SKK, all workers Sharing Contract (PSC), leaders and workers in the Ministry of Energy and Mineral Resources, Ministry leaders and workers in other related, among House of Representatives (DPR), Regional Governments and all stakeholders in the upstream oil and gas industry, including the support of the media, “Rudi said in Jakarta, Thursday (08/01/2013).

Therefore, Rudi appreciate and thank them for their hard work and support of all stakeholders in order to increase production of oil and natural gas revenues nationwide so that the target could be exceeded.

“Although there are still many unsuccessful PSC oil production exceeded the target set in the state budget in 2013 but some very well managed PSC exceeded the target,” said Rudi.

Rudi insisted that the entire PSC is still not able to meet the target set in the state budget-2013 as well as targets in the Work Programme and Budget (WP & B) in 2013, in order to immediately improve the performance target is met.

“Performance targets are not reached so soon improved to the national oil production target could also be exceeded. What we are doing right now is working for the state, in the national interest because it lets us collaborate and work together,” he said.

A number of non-technical constraints such as the licensing process in local government, including the issue of sealing oil wells crude oil theft is still a major persolaan in an effort to increase national oil production.

Therefore, said Rudi, the regents are expected to participate and support efforts to increase domestic oil production in order to improve the welfare of the people in Indonesia.

“State revenue from oil and gas are not only enjoyed by the people in the oil and gas producing areas but also enjoyed by the public at the end of the island in the archipelago that has no oil. Due to direct oil and gas revenues into the state account and go straight in the oil and gas revenues in the state budget enjoyed by all people of Indonesia from Sabang to Merauke, “he concluded.