KrisEnergy Departs from the Andaman II Block

KrisEnergy Ltd sold all of its shares in the Andaman II Block by 30% to BP Exploration Operating Company Limited. KrisEnergy together with partners won the Andaman II Block at the 2017 oil and gas block auction.

BP Exploration Operating Company Limited

In its official statement, KrisEnergy states, it has signed a conditional sale and purchase agreement with BP Exploration Operating Company Limited for the sale of its shares in the Andaman II Block. The buying and selling of participatory interests (PIs) is still awaiting approval, including from the Government of Indonesia.

"The sale of these assets has taken into account the future exploration costs and risks associated with deep sea activities. The board of directors believes that it is prudent to allocate limited KrisEnergy capital to fund short-term development, "it said in its official statement.

However, KrisEnergy revealed, there is no certainty or guarantee that the release of this asset will be completed. In the Andaman II Block, KrisEnergy is only a 30% PI holder, not an operator. BP Indonesia Head of Country Moektianto Soeryowibowo confirmed that his party has signed an agreement with KrisEnergy.

"The transfer of participating interests is still awaiting several approvals, including from the Indonesian government," he said.

Deputy for Operations of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Julius Wiratno admitted that he did not yet know about the KrisEnergy corporate action in releasing its share ownership in the Andaman II Block. But he said, the transfer of shares could affect exploration activities in the block.

"Maybe it can also influence [exploration activities]," said Julius.

The Andaman II Block was won by the Consortium of Premiere Oil Far East Ltd, Kris Energy (Andaman II) BV, and Mubadala Petroleum (Andaman II JSA) Ltd in 2017. Furthermore, this block of production sharing contract (PSC) was just signed last year with a gross split scheme.

Mubadala Petroleum

The share ownership in the oil and gas block is 40% Premiere Oil, 30% Mubadala Petroleum, and 30% KrisEnergy. The Consortium of Premier Oil Far East Ltd, KrisEnergy (Andaman II) BV, and Mubadala Petroleum (Andaman II JSA) Ltd promised a definite commitment for the first three years of G&G and 3D seismic activities totaling 1,850 square kilometers (km2) worth US $ 7.55 million. While the signature bonus given is US $ 1 million.

IN INDONESIA

KrisEnergy Hengkang dari Blok Andaman II

KrisEnergy Ltd menjual seluruh sahamnya di Blok Andaman II sebesar 30% kepada BP Exploration Operating Company Limited. KrisEnergy bersama mitra memenangkan Blok Andaman II ini pada lelang blok migas 2017 lalu. 

Dalam keterangan resminya, KrisEnergy menyatakan, telah menandatangani perjanjian jual beli bersyarat (conditional sale and purchase agreement) dengan BP Exploration Operating Company Limited untuk penjualan sahamnya di Blok Andaman II tersebut. Jual beli bagian partisipasi (participating interest/PI) ini masih menunggu persetujuan persetujuan, termasuk dari Pemerintah Indonesia.

“Penjualan aset ini telah mempertimbangkan biaya eksplorasi di masa mendatang dan risiko-risiko terkait kegiatan di laut dalam. Jajaran direksi percaya bahwa lebih bijaksana mengalokasikan modal KrisEnergy yang terbatas untuk mendanai pengembangan jangka pendek,” demikian tertulis dalam keterangan resminya.

Meski demikian, KrisEnergy mengungkapkan, tidak ada kepastian ataupun jaminan pelepasan aset ini akan diselesaikan. Di Blok Andaman II, KrisEnergy hanya sebagai pemegang PI dengan besaran 30%, bukan operator. Head of Country BP Indonesia Moektianto Soeryowibowo membenarkan bahwa pihaknya

telah menandatangani perjanjian dengan KrisEnergy. 

“Pengalihan participating interest masih menunggu beberapa persetujuan, termasuk dari pemerintah Indonesia,” tuturnya.

Deputi Operasi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Julius Wiratno mengakui belum mengetahui soal aksi korporasi KrisEnergy melepas kepemilikan sahamnya di Blok Andaman II. Namun dikatakanya, pengalihan saham ini bisa berpengaruh pada kegiatan eksplorasi di blok tersebut. 

“Mungkin bisa berpengaruh juga [kegiatan eksplorasi],” kata Julius.

Blok Andaman II dimenangkan oleh Konsorsium Premiere Oil Far East Ltd, Kris Energy (Andaman II) BV, dan Mubadala Petroleum (Andaman II JSA) Ltd pada 2017 lalu. Selanjutnya, kontrak kerja sama (production sharing contract/PSC) blok ini baru diteken pada tahun lalu dengan skema bagi hasil kotor (gross split).

Kepemilikan saham di blok migas ini yakni Premiere Oil 40%, Mubadala Petroleum 30%, dan KrisEnergy 30%. Konsorsium Premier Oil Far East Ltd, KrisEnergy (Andaman II) BV, dan Mubadala Petroleum (Andaman II JSA) Ltd menjanjikan komitmen pasti tiga tahun pertama berupa kegiatan G&G dan seismik 3D seluas 1.850 kilometer persegi (km2) senilai US$ 7,55 juta. Sementara bonus tanda tangan yang diberikan US$ 1 juta.

Investor Daily, Page-9, Friday, Nov 22, 2019