PHE transfers 10% PI in ONWJ block
Wednesday, December 20 2017 - 12:51 AM WIB
Petromindo|Khalsa
Upstream company PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) signed on Tuesday an agreement with PT Migas Hulu Jabar ONWJ (MUJ ONWJ) on the transfer of a 10 percent participating interest in the Offshore North West Java (ONWJ) block to the latter company.
PHE said in a statement that the agreement was signed by Beni J. Ibradi, PHE ONWJ President Director, and Ryan Alfian Noor, President Director of MUJ ONWJ. The signing ceremony was among others witnessed by top officials of the West Java and Jakarta provincial administrations, which own MUJ ONWJ.
PHE signed earlier this year a new contract over the ONWJ block which applies the gross split scheme, replacing the cost recovery scheme under its previous contract.
PHE ONWJ?s operation spans around 8.300 sq km in the Java sea stretching from northern part of Thousand Islands in Jakarta to the northern waters of Cirebon in West Java. Facilities owned by PHE ONWJ comprise of 200 platforms, 404 undersea pipeline networks totaling 1,900 km.
Editing by Reiner Simanjuntak