JAKARTA (RambuEnergy.com)– PT Pertamina Hulu energi Offshore North West Java (PHE ONWJ) has signed an agreement to transfer 10% of participating interest in the ONWJ block to PT Migas Hulu Jabar ONWJ, a company owned by the West Java provincial government on Tuesday (Dec. 19).
The agreement was signed by President Director of PHE ONWJ Beni J. Ibradi and President Director of Migas Hulu Jabar Ryan Alfian Nor, witnessed by West Java Governor Ahmad Heryawan. The signing deal was also attended by Deputy Head for Business Support of the Special Task Force for Upstream Oil and Gas Business (SKK Migas) M. Atok Urrahman.
Ahmad Heryawan admitted that the transfer of shares takes time to be finalized and hopes the interest would benefit the people in the province. The handover of participating interest is in line with the Energy Ministry Decree (Permen ESDM) No. 37, 2016 on participating interest. As for
Offshore North West Java (ONWJ) production sharing contract in the Java Sea covers an area of approximately 8,300 square kilometres – stretching from the North of Cirebon to One Thousand Islands.
Pertamina Hulu Energi ONWJ (PHE ONWJ) is currently the operator of the PSC, following the change of company ownership from BP to Pertamina in July 2009, Facilities include 670 wells, 170 shallow water platforms, 40 processing and service facilities and some 1,600 kilometres of sub-sea pipelines.