Pertamina Hulu Energi to takeover NSO, Block B operatorship from ExxonMobil in October

JAKARTA (rambuenergy.com) – ExxonMobil Oil Indonesia has agreed to sell Block B and North Sumatra Offshore (NSO) in Nanggroe Aceh Darussalam to the Indonesian state energy company PT Pertamina at an undisclosed price.

The Head of Public Relation Division of the Special Task Force for Oil and Gas Upstream Business (SKK Migas) Elan Biantoro confirmed that pertamina, through its unit PT Pertamina Hulu Energy (PHE) will control 100 percent stakes in the two blocks. Pertamina will also buy 30 percent interest of ExxonMobil in PT Arun Natural Gas Liquefaction facility.

The purchase has been approved by the Energy and Mineral Resources Minister Sudirman Said, he noted.

“The (purchase) process will be completed at the end of this month and as per October 1, PHE will operate the two blocks,” Elan Biantoro said, as quoted by Kontan daily.

Director for Upstream of Pertamina Syamsu Alam has said that Pertamina is in the process to acquire Block B, Block NSO as well as ExxonMobil’s interest in Arun NGL.

ExxonMobil’s contract to operate the two blocks will expire in 2018.

Currently, Pertamina holds 55 percent stakes in Arun NGL, Exxon 30 percent and JILCO (Japan-Indonesia LNG Company consortium) holds 15 percent stakes.

Block B is estimated to still have oil reserves of 3,343 million stock tank barrels and gas reserves of 104 billion standard cubic feet (BSCF), while NSO Block is estimated to still have oil reserves of 272 MTSB and gas reserves of 92 BSCF. (*)

 

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