JAKARTA, NNC - PT Pertamina (Persero) is ready to take the Southeast Sumatra (SES) working area (WK) previously managed by CNOOC SES Ltd since it has been assigned by the government to manage the eight termination working areas which ends in 2018.
SES working area which is located about 90 km from the coast of Jakarta will end its contract period after September 5, 2018. Pertamina through its subsidiary PT Pertamina Hulu Energi (PHE) has conducted an operation and Quality, Health, Safety, Security & Environment (QHSSE) study as well as several times conducted field visits to ensure the smooth transfer of management after termination of the SES working area.
"SES WK is one of the biggest contributors to Indonesia's oil and gas production. The Government's trust in handing over the management of this WK to Pertamina is a challenge, and we are ready to answer these challenges by launching operational excellence," Acting PHE President Director Huddie Dewanto in a written statement on Monday (9/3/2018).
He revealed currently the oil and gas production performance of CNOOC SES Ltd. in July 2018 is 30,673 barrels per day (bpd) or has exceeded the 2018 Work Program & Budget (WP&B) target set by the government through the Upstream Oil and Gas Executive Task Force (SKK Migas) of 30,000 bpd. At the end of the year, the SES working area is projected to reach 31,000 bpd of petroleum production.
At present, the composition of the Participating Interest in SES working area is CNOOC SES Ltd. with 65.54 percent, PHE OSES 20.55 percent, PT Saka Energi Sumatra 8.91 percent and PT GHJ SES Indonesia five percent.
After the transfer of management, Pertamina through its subsidiary, PT PHE Offshore Southeast Sumatra (PHE OSES), will become the SES operator with a Gross Split profit sharing contract. PHE OSES will have 100 percent Participating Interest in the SES WK.
Regarding the Participating Interest of 10 percent to the Regional Government, Huddie said that Pertamina would fully support the government's decision regarding this matter.
"The management transfer of SES WK is Pertamina's effort to support Indonesia's energy security and provide added value to the growing oil and gas industry by continuing to prioritize QHSSE," he said.