Petrosea Signs Term Sheet for Coal Mining Agreement in Central Kalimantan

Jakarta,- PT Petrosea Tbk announced the signing of a term sheet for a coal mining services agreement worth around USD 230 million with PT Global Bara Mandiri, Wednesday (5/6). This 8-year contract can be extended to a life-of-mine contract, indicating Petrosea's long-term commitment to Central Kalimantan.

Mining Director of PT Petrosea Tbk, Iman Darus Hikhman, stated that in this agreement, the scope of work from Petrosea includes overburden excavation, coal stripping and coal loading in the mine located in Central Kapuas District, Kapuas Regency, Central Kalimantan Province.

"The signing of the term sheet of this agreement is a concrete manifestation of Petrosea's business expansion to Central Kalimantan and strengthens the Company's sustainability in the future," he said in a written statement, Thursday (6/6).

He continued, that Petrosea offers various pit-to-port project services, including open pit contract mining services, civil & infrastructure construction, mining project management services, technical & feasibility study consulting services, mine planning & optimization services, as well as Minerva Digital Platform solutions.

All of these services can be applied in every mineral and coal mining operation. Apart from that, the services can also be tailored to the needs of each project by utilizing the latest technology, which ultimately aims to increase operational efficiency and productivity.

Iman emphasized that Petrosea also has the ability to monitor and control operational activities in various projects by utilizing real-time data through the Remote Operations Center located at the Company's head office.

All Petrosea operational and financial performance targets are supported by a strong culture of Security, Safety and Environmental Health (K3L) through the implementation of zero accident targets, operational excellence and continuous improvement, as well as risk management factors and Good Corporate Governance as the Company's sustainable backbone.

Sources : Jun 13.24

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