The three blocks acquired are the Bukat, Ambalat and Nunukan in the East Kalimantan offshore.Jakarta (ANTARA News) - PT Pertamina Hulu Energi (PHE) has acquired the participating interests of Anadarko Offshore Holding Company LLC in three oil and gas blocks in East Kalimantan.
PHE President Director, Salis Aprilian, said here on Monday the three blocks acquired are the Bukat, Ambalat and Nunukan in the East Kalimantan offshore.
The PHE signed the agreement to buy 100 percent shares of Anadarko Ambalat Ltd., Anadarko Bukat Ltd., and Anadarko Indonesia Nunukan Company on Monday.
After the acquisition PHE would control 33.75 percent of the participating interest in the Ambalat Block, 33.75 percent in Bukat and 35 pecent in Nunuka formerly the sister companies of Anadarko Offshore, Anardarko Petroleum Corporation which is listed in New York.
The composition of the participating interest in Nunukan after the acquisition is 35 percent for PHE as the operator, 40 percent PT Medco E&P Nunuka, 12.5 percent BPRL Ventures Ind BV and 12.5 percent for Videocon Ind Nunuka Inc.
In Bukat, ENI as the operator has 66.25 percent participating interest while PHE 33.75 percent.
In Ambalat, ENI has 66.25 percent and acts as the operator while PHE has 33.75 percent.
Salis said of the three blocks Bukat has been under process of preparation for development.
"Two structures in Bukat that have been proven are Tulip and Aster," he said.
He said Bukat`s production target would be set based on the plan of development and the development of the production facilities.
Pertamina spokesman Ali Mundakir said the acquisition was strategic as the blocks are close to the company`s operations areas in Bunyu and Tarakan.
"The move would also give an opportunity to Pertamina to improve its deep water operations technology and the government contribution to the development of border regions," he said.
He said the transactions would be effective after the terms and conditions in the agreement were met.(*)
Editor: Heru Purwanto
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