PHE to transfer operatorship of CBM blocks to third parties

PT Pertamina Hulu Energi (PHE) plans to transfer the operatorship and part of its interests in four CBM blocks to third parties to help accelerate the development of the blocks, Investor Daily reported on Tuesday.

PHE President Director Ignatius Tenny Wibowo said that his company could not effectively and efficiently develop the entire blocks on its own.

PHE has interest in 14 CBM blocks, nine of which with operatorship status including Muara Enim 1 and 3; Air Benakat 1, 2 and 3; Suban 1 and 2; and Tanjung Enim 2 and 4.

The company has decided to transfer the operatorship and part of the participating interest in four of the nine CBM blocks to third parties. The blocks are Air Benakat 1 and 2, and Muara Enim 1 and 3.

Tenny said that the company will sell part of the participating interest in the four blocks, but it will retain majority interest of more than 51 percent. He added that PHE has signed the join operating agreements with the third parties, whose names were not disclosed.

The plan to transfer the operatorship, however, will require the approval of upstream oil and gas authority SKK Migas. Meanwhile, Aussie B. Gautama, Deputy for Planning Control at SKK Migas, said that his office has yet to receive the request for the transfer of the operatorship of the PHE CBM blocks. (*)