JAKARTA - PT Pertamina and gas companies from Thailand, PTTEP, agreed to acquire the company's production block from the United States, Hess Corporation, in Indonesia, with a transaction value of US$ 1.3 billion or around Rp15 trillion .
According to spokesman Pertamina, Ali Mundakir, Pertamina and PTTEP contribution of each 50 % of the total value of the transaction.
"The time of this settlement will be carried out in accordance with certain conditions set forth in the SPA (share purchase agreement), " he said in a press release on Monday (02/12/2013).
Acquisition of subsidiaries performed Pertamina, PT Pertamina Hulu Energy, PTTEP and its subsidiaries, PTTEP Netherlands Holding Cooperatie UA .
In the acquisition, Pertamina with PTTEP control 75 % participating interest (PI) in the block and 23% Pangkah Natuna Sea Block A. The second block in the offshore region .
Pangkah block is located in the northeastern part of Java with a production of 7,000 barrels of oil per day and 33 million cubic feet per day (MMSCFD) of gas. Meanwhile , the total proven and potential reserves (2P) is estimated at about 110 million barrels of oil equivalent.
With the acquisition of Pertamina and PTTEP will be the operator of Block Pangkah.
While the Natuna Sea Block A is located in the West Natuna Sea adjacent to Malaysia . The current gas production of 220 MMSCFD Anoa Field 145 MMSCFD and 75 MMSCFD of Gajah Baru . Production of 2,350 barrels of oil per day. Total 2P reserves estimated 209 million barrels of oil equivalent.
Other partners in the management of the Natuna Sea Block A is Premier Oil as operator with a 28.67% ownership PI, Kufpec 33.33 %, and Petronas 15 %.
Ali said the acquisition of blocks belonging to Hess is a step upstream oil and gas Pertamina became the dominant player in the country in 2015. " In 2025, Pertamina's production is projected to reach 2.2 million barrels of oil equivalent per day that would come from domestic and overseas operations in balanced proportion," he said. (*)
According to spokesman Pertamina, Ali Mundakir, Pertamina and PTTEP contribution of each 50 % of the total value of the transaction.
"The time of this settlement will be carried out in accordance with certain conditions set forth in the SPA (share purchase agreement), " he said in a press release on Monday (02/12/2013).
Acquisition of subsidiaries performed Pertamina, PT Pertamina Hulu Energy, PTTEP and its subsidiaries, PTTEP Netherlands Holding Cooperatie UA .
In the acquisition, Pertamina with PTTEP control 75 % participating interest (PI) in the block and 23% Pangkah Natuna Sea Block A. The second block in the offshore region .
Pangkah block is located in the northeastern part of Java with a production of 7,000 barrels of oil per day and 33 million cubic feet per day (MMSCFD) of gas. Meanwhile , the total proven and potential reserves (2P) is estimated at about 110 million barrels of oil equivalent.
With the acquisition of Pertamina and PTTEP will be the operator of Block Pangkah.
While the Natuna Sea Block A is located in the West Natuna Sea adjacent to Malaysia . The current gas production of 220 MMSCFD Anoa Field 145 MMSCFD and 75 MMSCFD of Gajah Baru . Production of 2,350 barrels of oil per day. Total 2P reserves estimated 209 million barrels of oil equivalent.
Other partners in the management of the Natuna Sea Block A is Premier Oil as operator with a 28.67% ownership PI, Kufpec 33.33 %, and Petronas 15 %.
Ali said the acquisition of blocks belonging to Hess is a step upstream oil and gas Pertamina became the dominant player in the country in 2015. " In 2025, Pertamina's production is projected to reach 2.2 million barrels of oil equivalent per day that would come from domestic and overseas operations in balanced proportion," he said. (*)
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