The consortium has decided on the management rights in the East Natuna Block. As the consortium leader, PT Pertamina (Persero) will share a 45 percent stake in the East Natuna Block's management rights with ExxonMobil. Meanwhile, PTT EP will hold a smaller stake, at only 10 percent.
This consortium composition differs from that at the signing of the Principle of Agreement (PoA) in August 2011. At that time, Pertamina held a 35 percent stake in the East Natuna Block's management rights, ExxonMobil 35 percent, Petronas 15 percent, and Total 15 percent.
The significant carbon dioxide (CO2) content, as high as 70 percent, presented a challenge in the profit-sharing negotiations between the operator and the government. This high CO2 content makes gas production in the East Natuna Block more expensive. The consortium is requesting a larger profit share to achieve economic viability. Contract signing is likely to be delayed until the completion of technical and market studies, allowing the consortium to calculate the economic viability of the East Natuna Block.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy,
but please note that automated translations may contain errors or slight inconsistencies."