Jakarta - PT Pertamina (Persero) officially announced that it has acquired Block 405a is located in Algeria with a total transaction value of US$1.8 billion, or about Rp20 trillion.
Pertamina's president director, Karen Agustiawan said that a large -scale acquisition gives Pertamina high -quality crude oil in significant quantities.
"This move also represents a `key` milestone in efforts to expand international business `upstream` Pertamina ," he said .
Pertamina has officially Block 405a after completing the purchase transaction of business units ConocoPhillips in Algeria, namely ConocoPhillips Algeria Limited .
Block 405a consists of three main oil field Menzel Lejmat North (MLN), Ourhoud, and EMK.
After the acquisition, Pertamina controls 65 percent participating interest (Participating Interest/PI) in the MLN Field, as well as acting as the operator.
Meanwhile, in the Field Ourhoud and EMK , Pertamina each have 3.7 percent and 16.9 percent PI PI.
Pertamina did not become the second operator in the field.
Total production of Block 405a has now reached more than 35,000 barrels per day, so that with the acquisition, the acquiring part Pertamina approximately 23,000 barrels per day.
Furthermore, oil production will increase from Block 405a approximately 35,000 barrels per day, after EMK Field started production.
Results of planned production in Block 405a entrance to the oil refineries .
Meanwhile, additional reserves of the block to Pertamina was estimated at more than 100 million barrels of oil.
Net assets stood at ConocoPhillips Algeria Ltd. US$850 million per October 31, 2012. (*)
Pertamina's president director, Karen Agustiawan said that a large -scale acquisition gives Pertamina high -quality crude oil in significant quantities.
"This move also represents a `key` milestone in efforts to expand international business `upstream` Pertamina ," he said .
Pertamina has officially Block 405a after completing the purchase transaction of business units ConocoPhillips in Algeria, namely ConocoPhillips Algeria Limited .
Block 405a consists of three main oil field Menzel Lejmat North (MLN), Ourhoud, and EMK.
After the acquisition, Pertamina controls 65 percent participating interest (Participating Interest/PI) in the MLN Field, as well as acting as the operator.
Meanwhile, in the Field Ourhoud and EMK , Pertamina each have 3.7 percent and 16.9 percent PI PI.
Pertamina did not become the second operator in the field.
Total production of Block 405a has now reached more than 35,000 barrels per day, so that with the acquisition, the acquiring part Pertamina approximately 23,000 barrels per day.
Furthermore, oil production will increase from Block 405a approximately 35,000 barrels per day, after EMK Field started production.
Results of planned production in Block 405a entrance to the oil refineries .
Meanwhile, additional reserves of the block to Pertamina was estimated at more than 100 million barrels of oil.
Net assets stood at ConocoPhillips Algeria Ltd. US$850 million per October 31, 2012. (*)
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