MEA Completes Due Diligence on Bula and Non Bula Blocks


Jakarta, – PT. Maluku Energi Abadi (Perseroda) accompanied by a Team of State Attorneys (JPN) Maluku Attorney General’s Office and Independent Assistant Consultants 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 Final Result of the Transfer of PI 10% which took place at The Natsepa Resort and Conference Center, last Tuesday (14/12/2021).

Dr. 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, it was concluded that the 10% PI Management of the Two Oil and Gas Blocks located at the tip of Seram Island, was feasible. to be continued with the Internal Rate Return (IRR) of 49% and 95%.

“JMT LawHouse also recommends 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,” he said.

Regarding the involvement of the West Seram Regency (SBT), Lulus Mustofa, S.H., M.H., who was also present with the Maluku Attorney General’s Office Team, reminded MEA to give the district the opportunity to continue to get the 10% PI portion.

“The 10% PI portion right must be given to SBB Regency and continue to coordinate by sending a letter containing the PKS Draft as attached to SBT Regency,” he said.

Responding to this, MEA Director, Ir. Musalam Latuconsina conveyed that he would communicate with the Governor of Maluku as the majority shareholder of MEA to immediately express the second interest and ability so that he can be actively involved in managing the two Oil and Gas Blocks.

This alumnus of SMA Negeri 2 Ambon further explained the technical mechanism for expressing interest in which he will immediately prepare a letter stating his interest in the 10% PI of the two Oil and Gas Blocks to each Contractor before January 2022 ends.

“We are 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,” said the MEA Director for the first period. (SF)


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