Financing Indonesian Oil & Gas

Importing oil into the country needs a sound and steady financing. As an example, PT Pertamina requires U.S. $ 150 million per day to buy oil. This money is provided by three major national banks: Bank Mandiri, BRI and BNI – upon coordination with Bank of Indonesia (BI).

This week Rudi Rubiandini, SKK Migas Head, visited the Board of PT Bank Negara Indonesia (Persero) TBK. BNI Bank is considered the most advanced in providing banking services to oil and gas industry in the country and has a special interest in financing the development of the oil and gas sector. Mr. Rubiandini made a presentation to top management; of 76 producing PSC in Indonesia 44 are clients of BNI.  Cash management and loans are the major operations of the Bank in sector. In cash management major clients are: Energy Mega Persada (Mosesa Petroleum), Husky-CNOOC Madura Limited, PT Isargas, Tately NV, Inpex and JOB Pertamina-Medco Tomori Sulawesi. Cash management and e-tax payment: Elnusa Petrovin, Vico, BP, PHE WMO, Japan Drilling Indonesia, Kangean Energy Indonesia, ENI, Salamander Energy, Husky CNOOC Madura and CNOOC Ses. The biggest loans are provided for Pertamina, Medco and Gas Negara. Transactions volume for cash management for oil and gas in the first half of 2013 reached $ 4.76 billion.  

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