PHE completes Aussie asset acquisition

PT Pertamina Hulu Energi (PHE), through its Australian unit PT Pertamina Hulu Energi Australia Pty Limited has completed the acquisition of a 10 percent participating interest in Production Licences VIC/L26, VIC/L27 and VIC/L28, offshore Victoria, Australia.

PHE? Operation Director Dwi Martono told Petromindo.com on Friday that PHE completed the acquisition on Aug. 19, 2009 and it was spending US$31.5 million for the fields including working capital.

Production licences VIC/L26, VIC/L27 and VIC/L28 include the Basker, Manta and Gummy (BMG) oil and gas fields in the Commonwealth waters of Bass Strait.

Following the acquisition, BMG joint venture now consists of Anzon Australia Pty Limited (operator) with a 30 percent share, Beach Petroleum Limited (30 percent), CIECO Exploration and Production (Australia) Pty Ltd (20 percent), Sojitz Energy Australia Pty Ltd (10 percent) and PT Pertamina Hulu Energi (10 percent)

ROC Oil Company Limited, the parent company of Anzon Australia, said in a statement in May that BMG fields produced some 8,000 barrels per day of oil in the first quarter of 2009. (godang)