MEA Complete Diligence Test of Bula & Non Bula Block


AMBON, Maluku – PT. Maluku Energi Abadi (Perseroda) accompanied by the Maluku Attorney General’s State Attorney Team (JPN) and Independent Assistance Consultants have successfully completed the Due Diligence process or Due Diligence on Two Oil and Gas Working Areas Bula and Seram Non Bula.

This success was marked by the submission of the Final Due Diligence Report by the Consultant to MEA during the Plenary Session of the Final Results of the Transfer of PI 10% which took place at The Natsepa Resort and Conference Center, Tuesday (14/12/2021).

Erick, who represented JMT LawHouse, said that based on a study of all data obtained from each Contractor, namely Kalrez Petroleum (Seram) Limited and Citic Seram Energy Limited, we concluded that the 10% PI Management of the Two Oil and Gas Blocks located at the tip of Seram Island, is feasible. to be continued with the Internal Rate Return (IRR) of 49% and 95%.

Furthermore, JMT LawHouse also recommended that MEA as a BUMD appointed by the Governor of Maluku Murad Ismail, to immediately establish PPD Migas as a subsidiary that will manage the 10% PI portion.
Regarding the involvement of SBT, Lulus Mustofa, SH. MH., who was also present along with the Maluku Attorney General’s Office Team reminded MEA to provide an opportunity for SBT Regency to continue to get the 10% PI Portion Right and continue to coordinate by sending a letter containing the PKS Draft as attached to SBT Regency.

In response to the above, the Director of MEA, Musalam Latuconsina admitted that he would communicate with the Governor of Maluku as the majority shareholder of MEA to immediately express interest and ability to both so that they can be actively involved in managing the Two Oil and Gas Blocks.

“I will immediately prepare a letter stating that I will continue to be interested in the 10% PI of the two Oil and Gas Blocks to each contractor before January 2022 ends,” he said.

He is optimistic that in facing the next stage, namely the Negotiation of the Joint Operation Agreement Contract in the 9th stage before finally in the 10th stage the transfer of 10% PI was officially approved by the Minister of Energy and Mineral Resources through SKK Migas. (MT-05)

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