Minerals Report - International Seabed Authority

The contractor will recover all operating costs (as clearly defined) in
the form of crude oil and shall be entitled to freely export them, except those
destined for the domestic market of Indonesia.
The remaining crude oil shall be apportioned in graduated level of
production as follows:
If the first production is from a “marginal field”, Pertamina will get
64.2857 % and the contractor 35.7143 %. “Marginal field” is the first field
capable of producing not more than 10,000 barrels daily average for 24
consecutive production months and represents a separate segment from the
others.
Similar partition for “tertiary recovery” of “enhanced oil recovery”
(E.O.R.) project and also represents a separate segment from the others
(64.2857 % and 35.7143 % respectively).
From the “pre-tertiary reservoir rocks” (which were deposited or
formed in pre-tertiary time):
64.2857 % for Pertamina and 35.7143 % for contractor, for production
of up to 50,000 barrels daily average for the calendar year.
73.2143 % for Pertamina and 26.7857 % for contractor, for production
of 50,000 to 150,000 barrels daily for the calendar year.
82.1429 % for Pertamina and 17.8571 % for contractor, for production
of more than 150,000 barrels daily average for the calendar year.
Other than the above, 83.2143 % for Pertamina and 26.7857 % for
contractor.
Each of the above is a separate segment of production.
The title will pass to the contractor at the point of export and to
Pertamina at the port of delivery.
INTERNATIONAL SEABED AUTHORITY 862