Thursday, August 26, 2010

Pertamina Geothermal in Need of Rp18 Trillion

Jakarta, Indonesia (News Today) - PT Pertamina Geothermal Energy (PGE), a subsidiary of state oil and gas company PT Pertamina, needed US$2 billion, the equivalent of Rp18 trillion, to build a geothermal power plant with an installed capacity of 1,000 megawatts.

"They money is expected as loan from the United Kingdom, France, Germany, Japan, and the World Bank, and the project completed in 2014," PGE President Director Abadi Poernomo said after providing Pertamina with an assistance for people in Ibun subdistrict, Bandung regency, on Sunday afternoon.

He said building of the geothermal power plant which will be built soon, Karaha Bodas with a capacity of 30 megawatts (MW), will be followed by the building of similar projects, including in Lahendong in North Sulawesi, Sibayak, Ulubelu, in Lampung, Lumutbalai, Hululais, Kotamubagu, and Sungai Penuh in Jambi. According to him, under decision of Energy and Mineral Resources Minister no 32/2010, as the price of geothermal power (PLTP) for state electricity company PT PLN had been set at 9.7 cents per KWH, the construction of the project is quite reasonable.

The problem, he said, is the reach of the network from PLN to the points of the PLTP, which is actually not too far from the existing geothermal resources, and the still non-existing interconnections in Sumatra and in other islands, and the Java-Sumatra power grid. Pertamina Geothermal Energy (PGE) established in 2006 had already used by the government to develop 15 geothermal concessions in Indonesia. Some 90 percent of the shares of the company which provides pollution-free energy, is owned by PT Pertamina, and 10 percent by PT Pertamina Dana Ventura.

Right now Pertamina has the right of managing 15 geothermal concessions with a total potential of 8,480 MW, which is equal to 4,392 MMBOE. Of 15 concessions, 10 are being run by PT PGE itself, namely, Kamojang with 200 MW, Lahendong 60 MW, Sibayak 12 MW, Ulubelu, Lumutbalai, Hululais, Kotamubagu, Sungai Penuh and Iyang Argopuro, and Karahabodas. Three of the areas have already been producing with a total capacity of 272 MW, or 12,900 BOEPD, and the rest run jointly by a partner producing a total of 922 MW.

Source : kompas

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