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Mubadala Sold 20% of Shares in the Andaman I and South Andaman Blocks



Mubadala Petroleum has completed the sale of participating interest / PI shares by 20% in the Andaman I and South Andaman Blocks to Premiere Oil. Mubadala Petroleum has obtained the approval of the Government of Indonesia related to the sale of these shares.

Mubadala Petroleum

The oil and gas company from the United Arab Emirates released 20% ownership in the Andaman I and South Andaman blocks. After the sale of this PI, Mubadala Petroleum holds 80% participating shares in Andaman I and South Andaman II, while Premiere Oil owns 20% in each of the oil and gas blocks.


the Andaman Block Aceh

Director of Mubadala Petroleum Bakheet Al Katheeri said the release of shares in the two oil and gas blocks was an important step for the company.

Dr. Bakheet Al Katheeri

"The completion of the sale of shares is an important step for the company and for the exploration of the Andaman Block off the coast of Aceh, and supports Mubadala Petroleum's growth strategy in Indonesia," he said.

Mubadala Petroleum signed the Andaman I Block production sharing contract (PSC) in April 2018. At this time, Mubadala promised an investment commitment of US $ 2.15 million to carry out G & G activities and the acquisition of 500-kilometer (km2) 3D seismic data.
While the signature bonus paid the US $ 750 thousand. While the South Andaman Block contract was signed in February last year. The investment commitment promised by Mubadala Petroleum is US $ 2.15 million in the form of 500 km2 G & G and seismic activities. Furthermore, the signature bonus paid the US $ 2 million. The 3,548.69 km2 block has 1,243.37 billion cubic feet of gas reserves and 218.92 million barrels of oil.


On the other hand, still referring to Mubadala's official statement, the UAE oil and gas company also holds a 30% PI in the Andaman II Block operated by PremierOil. Thus, Mubadala holds ownership in three oil and gas blocks off the coast of Aceh. Mubadala is the largest oil and gas holder in the region.

"Thus, Mubadala holds an area that has not yet been explored but has proven reserves in the North Sumatra basin for future exploration growth," the official statement said.

In the past year, Mubadala has completed the 3D seismic acquisition in Andaman I, Andaman II, and South Andaman. Initial analysis of the 3D seismic data is still in progress. 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 PSC was only signed last year with a gross profit-sharing scheme (gross split). The ownership of shares in this oil and gas block is Premiere Oil 40%, Mubadala Petroleum 30%, and KrisEnergy 30%.

The consortium of Premier Oil Far East Ltd, KrisEnergy (Andaman II) BV, and Mubadala Petroleum (Andaman II JSA) Ltd promise a definite commitment for the first three years of G & G and 3D seismic activities covering an area of ​​1,850 square kilometers (km2) worth the US $ 7.55 million. While the signature bonus given is the US $ 1 million. The Andaman II Block has the potential to store gas reserves of 844.14 billion cubic feet and oil 196.53 million barrels.

In the official statement of Premiere Oil on its website, the oil and gas company has completed the 3D seismic acquisition in several oil and gas blocks, one of which is Andaman II. 

      This data will be used to finalize the identification of prospects on 2D seismic data, which shows a direct indication of hydrocarbons. Drilling is planned to be carried out in 2021. These assets in the Andaman Sea have the potential to supply gas in sufficient quantities to the range of trillions of cubic feet.

IN INDONESIA

Mubadala Jual 20% Saham di Blok Andaman I dan South Andaman

Mubadala Petroleum telah merampungkan penjualan saham participating interest/PI sebesar 20% di Blok Andaman I dan South Andaman ke Premiere Oil. Mubadala Petroleum telah memperoleh persetujuan Pemerintah Indonesia terkait penjualan saham ini. 

Perusahan minyak dan gas berasal dari Uni Emirat Arab tersebut melepas kepemilikan masing­masing 20% di Blok Andaman I dan South Andaman. Pasca penjualan PI ini, Mubadala Petroleum memegang saham partisipasi masing­masing sebesar 80% di Andaman I dan South Andaman II, sementara Premiere Oil memiliki 20% di masing­masing blok migas tersebut.

Direktur Utama Mubadala Petroleum Bakheet Al Katheeri mengatakan, pelepasan saham di kedua blok migas ini merupakan langkah penting bagi perusahaan. 

“Penyelesaian penjualan saham ini adalah langkah penting bagi perusahaan dan untuk eksplorasi Blok Andaman di lepas pantai Aceh, dan mendukung strategi pertumbuhan Mubadala Petroleum di Indonesia,” kata dia.

Mubadala Petroleum menandatangani kontrak kerja sama (production sharing contract/PSC) Blok Andaman I pada April 2018 lalu. Pada saat ini, Mubadala menjanjikan komitmen investasi sebesar US$ 2,15 juta untuk melaksanakan kegiatan G & G dan akuisisi data seismik 3D 500 kilometer perseri (km2). 

Sementara bonus tanda tangan yang dibayarkan US$ 750 ribu. Sementara kontrak Blok South Andaman diteken pada Februari tahun lalu. Komitmen investasi yang dijanjikan oleh Mubadala Petroleum sebesar US$ 2,15 juta berupa pelaksanaan kegiatan G & G dan seismik 3D 500 km2. Selanjutnya, bonus tanda tangan yang dibayarkan US$ 2 juta. Blok seluas 3.548,69 km2 ini memiliki cadangan gas 1.243,37 miliar kaki kubik dan minyak 218,92 juta barel.

Sebaliknya, masih mengacu keterangan resmi Mubadala, perusahaan migas UAE itu juga memegang PI 30% di Blok Andaman II yang dioperatori oleh PremierOil. Sehingga, Mubadala memegang kepemilikan saham di tiga blok migas di lepas pantai Aceh. Mubadala menjadi pemegang area migas terluas di wilayah ini.

“Sehingga, Mubadala memegang wilayah yang masih belum dieksplorasi tetapi memiliki cadangan terbukti di basin Sumatra Utara untuk pertumbuhan eksplorasi di masa depan,” demikian tertulis dalam keterangan resmi tersebut.

Pada tahun lalu, Mubadala telah merampungkan akuisisi seismik 3D di Andaman I, Andaman II, dan South Andaman. Analisa awal data­data seismik 3D tersebut masih dalam pengerjaan. Blok Andaman II dimenangkan oleh Konsorsium PremierOil Far East Ltd, Kris Energy (Andaman II) BV, dan Mubadala Petroleum (Andaman II JSA) Ltd pada 2017 lalu. 

Selanjutnya, 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 PremierOil 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. Blok Andaman II berpotensi menyimpan cadagan gas sebesar 844,14 miliar kaki kubik dan minyak 196,53 juta barel.

Dalam keterangan resmi Premiere Oil di lamannya, perusahaan migas tersebut telah merampungkan akuisisi seismik 3D di beberapa blok migasnya, salah satunya Andaman II. Data ini akan digunakan untuk memfinalisasi identifikasi prospek pada data seismik 2D, yang menunjukkan indikasi langsung hidrokarbon. 

    Pengeboran direncanakan akan dilakukan pada 2021. Aset di Laut Andaman ini memiliki potensi untuk memasok gas dalam jumlah cukup besar hingga kisaran triliun kaki kubik.

Investor Daily, Page-9, Friday, Jan 24, 2020
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