PHE ONWJ buys Talisman?s interest in ONWJ Block
Sunday, May 5 2013 - 03:39 AM WIB
PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ), a subsidiary of PT Pertamina Hulu Energi, completed the acquisition of the 5.03 percent participating interest of Talisman Resources (North West Java) Ltd. in the ONWJ Block on Thursday, 2nd May, 2013.
"So, now the composition of interest in the ONWJ Block is as follows: PHE ONWJ, as the operator, at 58.3 percent, EMP ONWJ Ltd. amounted to 36.7 percent, and Risco Energy BV ONWJ at 5 percent," said the Subservice Senior Manager of PHE ONWJ, Ahmad Zailani, in the Media Center of Pertamina, Jakarta, on Friday, 3rd May 2013.
He said oil production target of ONWJ block in 2013 amounted to 36,400 bopd, while gas production target is at 193 mmscfd.
By the acquisition of the interest, according to Ahmad, it will boost the production and revenue targets of PHE ONWJ.
Editing by Benget Besalicto Tnb.