JAKARTA (RambuEnergy.com) – PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) and PT Migas Hulu Jabar ONWJ (MUJ ONWJ) have signed an amendment of an agreement to hand over 10% of participating interest in the Offshore North West Java (ONWJ) to Migas Hulu Jabar, a company owned by West Java provincial government.
The contract amendment was a follow-up of an agreement signed on Dec. 19, 2017 over participating interest handover.
The agreement amendment was signed by President Director of PHE ONWJ Meidawati and President Director of MUJ ONWJ Ryan Alfian Noor, witnessed by Director for Upstream of Pertamina Dharmawan H. Samsu and Acting Head of the West Java Energy Office Yerry Yanuar.
Based on the applicable regulations, oil and gas companies are required to hand-over 10% of participating interest to the local government-owned company (BUMD).
PHE ONWJ currently is developing the YY field, about 90 km from West Java north coast. At present, the company is fabricating an offshore oil and gas platform.
The YY field oil and gas production is projected to come onstream in late 2019, with estimated 3,750 barrels of oil per day (bopd) and 20 million standard cubic feet per day (MMSCFD).
The company invested US$85.4 million to build a new YYA offshore platform, seabed pipe along 13.5 km and modification of the existing offshore KLB and KLA platform.
PHE ONWJ is one of the largest oil and gas producer in the country. It produces around 30,000 bopd and gas of 106.4 MMSCFD. The ONWJ block has begun production in 1971. (*)