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Pertamina Official Handle ONWJ, Welcome Gross Split.

PT Pertamina official signed a contract block Offshore North West Java (ONWJ), previously known as Pertamina’s upstream energy (PHE) ONWJ.

Previously, it is clear the Minister of energy and Mineral resources (DEMR), Ignatius Jonan, ONWJ it konsesinya Energy Funds managed by PHE, PT Energy Mega Persada and investment company named Kufpec. “After a run out (his contract) Government commissioned the Pertamina then lowered subsidiary namely PHE to manage this work area,” Jonan said when the press conference at the Ministry of MINERAL RESOURCES, Jakarta, Wednesday (18/1/2017).

Jonan said, the contract was first signed a Production Sharing Contract (PSC) on 18 August 1966. Then a period of effective management on January 19, 1967 to January 19, 1997, or 30 years.

“The initial shareholders of the Independent Indonesian American Petroleum Company, amendment and extension of the PSC was January 19, 97 to this day January 18, 2017 or twenty years,” said the former Transport Minister of Cabinet Work Vol I.

The reserve is in place then, he said, amounted to 309.8 million barrels of Oil Equivalent (BOEPD) oil and 1114.9 Billion Cubik Feet (BCF) for gas. And the holder of the interest to 18 January 2017 is PT PHE ONWJ of 58,28%, EMP ONWJ 36.72% and Kufpek (ONWJ) 5%.

“And then we post that Pertamina lowered to the PHE with notes that production should not decrease the expectation of more. Pertamina, the longer the better. Because production must not be disturbed, Pertamina be invited back its EMP and kufpek in business to business, “he explained.

For results, Jonan mentioned in this Government using gross split: with base and variable split.

“This is the first time using the scheme of gross split. In fact if his KKKS extension can choose want PSC Cost Recovery or PSC gross split, “he said.

Because of this the same PSC, and the contract ended, eventually using gross split. Adapaun, for the results of the base and variable for the Government and contractors to 37.5% of the Government’s gas and 62.5% of contractors. As for the oil and Government of 57.5% 42.5% for contractors … (Red)

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