History of ONWJ Block and PHE ONWJ

History of ONWJ Block and PHE ONWJ

1966

IIAPCO and Pertamina signed a Production Cooperation (PSC) for the concession area offshore North West Java (ONWJ). Permit the government following a year later.

1967

Sinclair Exploration Company acquire operating rights to ONWJ of IAPCO.

1968

Ships drillers R & BE Thornton, the first offshore drilling units entering Indonesian waters to drill exploration wells E-1

1969

APN field discovery in the well A-1.

1971

Sinclair Exploration Company was officially changed to Atlantic Richfield Indonesia Inc.. The Indonesian Persiden Suharto inaugurated Ardjuna Field of Echo Flow Station on September 1, 1971.

1972

Bravo field began production of the BD platform.

1973

Kilo field began production of crude oil from the KA platform.

1974

Platform LA start producing Lima’s crude oil.

1975

Uniform Field start producing Ardjuna’s crude oil.

1971-2000:

American company Atlantic Richfield (ARCO) was the ONWJ operator from 1971 to 2000.

2000

The merger of BP, ARCO, Amoco, and Bumah Bristol.

2001

The commencement of APN development project.

2000-2009:

BP West Java Ltd., the subsidiary of UK-based oil and gas giant BP plc; the ONWJ operator from 2000 to 2009.

2009:

In June 2009, Pertamina bought 100 percent stake in BP West Java Ltd., the subsidiary of UK-based oil and gas giant BP plc in an acquisition reported to be worth $280 million.

As one of the first PSC in Indonesia, operated started from 1971 and called Atlantic Richfield Indonesia (ARII), then changed to BP West Java, and July 2009, the company become Pertamina Hulu Energi Offshore North West Java (PHE ONWJ).

Pertamina Hulu Energi ONWJ (PHE ONWJ), a company switch ownership of BP West Java to Pertamina since July 2009.

With the acquisition, Pertamina holds participating interest at the ONWJ block as well as its operatorship.

2010:

As on 30/08/2010, the ONWJ block ownership composition is Pertamina Hulu Energi ONWJ Ltd.. (Operator) by 46 percent, CNOOC ONWJ Ltd.. 36.7205 percent, INPEX Java Ltd.. 7.25 percent, Talisman Resources (N.W Java) Ltd.. amounted to 5.0295 percent and Salamander Energy (Java) Ltd.. 5 percent. (Source: esdm.go.id website)

2011:

In 2011, Pertamina bought 7.25 percent participating interest at the block that previously belonged to Japan-based firm Inpex’s through its local subsidiary Inpex Java Ltd.

Profile of ONWJ Block in 2011:

Block ONWJ
Location Offshore Northwest Java
Operator PT PHE ONWJ Ltd. (53,25%)
Partner CNOOC ONWJ Ltd.(36,7205%),
Orchard Energy Java B.V.(Salamander)(5%),
Talisman Resources(N.W. Java)(5,0295%)
Type of Contract Production Sharing Contract (PSC)
Effective Contract Date January 19, 1967
End of initial exploration period January 19, 1973
End of exploration extention   period January 19, 1977
End of contract period January 19, 2017
Status Production

CNOOC ONWJ Ltd. holds a 36.7205% working interest in Offshore Northwest Java Production Sharing Contract (the “ONWJ PSC”) in Indonesia.

Energi Mega Persada, through its subsidiary EMP International Ltd., purchased its stake from China’s CNOOC in 2011 in a transaction valued at $212 million.

CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 0883) has announced that its subsidiary, CNOOC Southeast Asia Limited, sold CNOOC ONWJ Ltd. to EMP International (BVI) Limited (“EMPI”) for consideration of approximately US$212 million. (December 22, 2011).

2012:

PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) find new oil reserves in KLU-1 exploration well drilled on Block ONWJ, the Java Sea.

Oil reserves of 620 barrels per day (bpd) and 22 million cubic feet of gas per day (mmscfd).

(Said General Manager Executive Vice President PHE ONWJ Jonly Sinulingga in Jakarta 13/11/2012 to Liputan6.com).

Composition ONWJ block ownership is Pertamina Hulu Energi ONWJ Ltd (Operator) of 53.25%, EMP ONWJ Ltd.. 36.7205%, Talisman Resources (NW Java) Ltd at 5.0295% and Risco Energy BV ONWJ by 5%. (Liputan6.com, 13-NOV-2012).

2013: 

PT Pertamina bought 5.03 percent Canada’s Talisman Energy’s participating interest in the offshore North West Java (ONWJ) block in a transaction worth US$40 million.

Pertamina signed the shares purchase agreement (SPA) with Talisman on Nov 2012, and the finalization of the transaction was only made public on Thursday, May 2, 2013 after the Energy and Mineral Resources Ministry’s approved the business deal.

With the transaction, Pertamina currently owns a 58.28 percent participating interest through PHE, which is also the operator of the block.

2014:

Pertamina currently owns a 58.28 percent participating interest through PHE, which is also the operator of the block.

Pertamina’s (58.28 percent) current partners in the ONWJ include PT Energi Mega Persada, a publicly listed oil and gas company within the Bakrie Group (36.72 percent interest at the block) and Singapore-based energy investment company Risco Energy (5 percent).

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