13 March 2014

Indonesian oil and gas regulator SKKMigas selected winners of a $4.13 billion engineering, procurement, construction and installation contract for the development of the Jangkrik and Northeast Jangkrik gas fields in the Muara Bakau production sharing contract (PSC). Contract winners include Tripatra Engineers and Constructors, Chiyoda International Indonesia, Hyundai Heavy Industries and a consortium comprised of Technip and FMC subsidiaries. Both fields will enter the production phase by early 2017 and are expected to produce at a peak rate of 450 MMcfd for at least six years. The fields are located off the coast of East Kalimantan and represent the country's first real progress developing its deepwater hydrocarbon reserves.