google.com, pub-9591068673925608, DIRECT, f08c47fec0942fa0 KrisEnergy Release of Andaman Ownership ll - MEDIA MONITORING OIL AND GAS -->

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Monday, January 13, 2020

KrisEnergy Release of Andaman Ownership ll



KrisEnergy Ltd agreed to release its 30% participating interest (PI) in the Andaman II Block to British Petroleum (BP). In an official statement, KrisEnergy's management announced that it signed a conditional sale and purchase agreement with BP Explorating Operating Company Limited.

BP Explorating Operating Company Limited

Currently the process of buying and selling participating rights in the Andaman II block is still awaiting approval from the Indonesian government. The Singapore-based oil and gas company released the Pl after considering the exploration costs and risks of marine oil and gas operations. By doing so, the Board of Directors considers it wise for KrisEnergy to allocate limited capital for short-term development. Krisenergy hasn't confirmed when the Pl release will be completed.

Based on this business agreement, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has not commented much. Head of SKK Migas Program and Communication Division Wisnu Prabawa Taher said that his party had not received an official notification from KKKS related to the planned release of the Pl.

"There is no formal information," he said.
The Andaman II Block is a new block auctioned by the government in 2017 using a gross profit sharing scheme. The new contract was signed in early 2018 which was won by the Andaman II block management consortium namely Premiere Oil Far East Ltd as operator, KrisEnergy Ltd, and Mubadala Petroleum. Based on ESDM Ministry data, the Andaman Il block has the potential to store reserves of 844.14 billion Cubic feet / BCF gas and oil 196.53 million barrels of oil / MMbo.

The first 3-year commitment must be fulfilled by the consortium in the form of G&G and elementary school seismic activities covering an area of ​​1,850 square kilometers (km2) worth US $ 7.55 million. In accordance with Government Regulation No. 53 of 2017 which regulates tax treatment for upstream oil and gas business activities with a gross split PSC, the contractor will get indirect tax incentives.

IN INDONESIA

KrisEnergy Lepas Kepemilikan Andaman ll


KrisEnergy Ltd sepakat untuk melepas hak partisipasi atau participating interest (PI) 30% yang dimilikinya di Blok Andaman ll kepada British Petroleum (BP).

    Dalam keterangan resmi, manajemen KrisEnergy mengumumkan bahwa pihaknya mendatangani perjanjian jual beli bersyarat dengan BP Explorating Operating Company Limited. 

Saat ini proses jual beli bagian  partisipasi blok Andaman II tersebut masih menunggu persetujuan pemerintah Indonesia. Perusahaan migas yang berbasis di Singapura tersebut melepas Pl setelah mempertimbangkan biaya eksplorasi serta risiko operasi migas laut. Dengan begitu, Dewan Direksi menganggap akan lebih bijaksana bagi KrisEnergy untung mengalokasikan modal terbatasnya untuk pembangunan jangka pendek. Krisenergy belum memastikan kapan pelepasan Pl akan selesai. 

Atas kesepakatan bisnis ini, Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) belum banyak berkomentar. Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengatakan pihaknya belum menerima pemberitahuan resmi dari KKKS terkait dengan rencana pelepasan Pl tersebut. 

“Belum ada informasi formal,” katanya.

Blok Andaman II merupakan blok baru yang dilelang pemerintah pada 2017 dengan menggunakan skema bagi hasil kotor atau gross split. Penandatanganan kontraknya baru dilakukan pada awal 2018 yang dimenangkan oleh konsorsium kelola blok Andaman II yakni Premiere Oil Far East Ltd sebagai operator, KrisEnergy Ltd, serta Mubadala Petroleum. Berdasarkan Data Kementerian ESDM, blok Andaman Il berpotensi menyimpan cadangan sebesar 844,14 billion Cubic feet/BCF gas dan minyak 196,53 juta barel minyak/MMbo. 

Adapun komitmen pasti 3 tahun pertama yang harus dipenuhi oleh konsorsium berupa kegiatan G&G dan seismik SD seluas 1.850 kilometer persegi (km2) senilai US$ 7,55 juta. Sesuai dengan Peraturan Pemerintah Nomor 53 Tahun 2017 yang mengatur perlakuan perpajakan pada kegiatan usaha hulu migas dengan PSC gross split, kontraktor akan mendapatkan insentif pajak tidak langsung.

Bisnis Indonesia, Page-24, Thursday, Nov 21, 2019

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