1LEMIGASLEMIGAS

GAS (& OIL) FIELDS DEVELOPMENTGAS (& OIL) FIELDS DEVELOPMENT&&

EOR/IOR TECHNOLOGIES EOR/IOR TECHNOLOGIES (A LESSON FROM INDONESIA)(A LESSON FROM INDONESIA)

LEMIGASLEMIGAS

0

10,000

20,000

30,000

2D (Planning) Km 23,548 19,015 8,665 8,655 13,494 7,054 8,672

2D (Actual) Km 17,156 14,599 2,167 5,190 13,514 15,854 8,422

3D (Planning) Km 11,796 3,749 6,149 9,298 1,840 18,373 4,897

3D (Actual) Km 10,240 6,632 4,077 8,757 2,131 2,749 5,459

1998 1999 2000 2001 2002 2003 2004

SEISMIC ACTIVITY IN INDONESIA

LEMIGASLEMIGAS

0

20

40

60

80

Well

s

Actual Discovery Success Ratio (%)

Actual 60 47 56 51 47 39 16Discovery 17 17 25 16 21 16 8Success Ratio (%) 28 36 44 31 44 41 50

1998 1999 2000 2001 2002 2003 2004

WILDCAT DRILLING IN INDONESIA

LEMIGASLEMIGAS

PROGRAMME VS REALIZATIONE&P DRILLINGS

PERIOD: 2000 - 2004

0

200

400

600

800

1000

1200

1400

Wel

l num

ber

Exploration Planning 144 117 112 114

Exploration realization 71 87 75 54 19

Exploitation Planning 1137 1112 1241 938 1069

Exploitation Realization 890 910 837 815 504

2000 2001 2002 2003 2004

2LEMIGASLEMIGAS

POLICIES TO INCREASE RESERVES AND PRODUCTION POLICIES TO INCREASE RESERVES AND PRODUCTION

DEVELOPING & APPLIED TECHNOLOGY: TO MAINTAIN & TO DEVELOPING & APPLIED TECHNOLOGY: TO MAINTAIN & TO INCREASE PRODUCTION AND RESERVES AT 1 MBOPD AND 10 INCREASE PRODUCTION AND RESERVES AT 1 MBOPD AND 10 MMBBL RESPECTIVELYMMBBL RESPECTIVELY

OPERATING COST (E&P) EFFICIENCY OPERATING COST (E&P) EFFICIENCY

DISCOVERY NEW RESERVES, INCLUDING FRONTIER AREA DISCOVERY NEW RESERVES, INCLUDING FRONTIER AREA (DEEP WATER DEPOSIT (DEEP WATER DEPOSIT SEA WATER DEPTH 3500 FEET), e.g. IN SEA WATER DEPTH 3500 FEET), e.g. IN EAST KALIMANTANEAST KALIMANTAN

INCREASING PRODUCTION BY APPLYING FRACTURING, INCREASING PRODUCTION BY APPLYING FRACTURING, ACIDIZING, ACIDIZING, WATER FLOOD, STEAM FLOOD OR POLYMER.WATER FLOOD, STEAM FLOOD OR POLYMER.

LEMIGASLEMIGAS

0

100

200

300

400

500

600

700

800

900

1000

1100

1200

1300

1400

1500

1600

1700

1800

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

PRO

DU

CTI

ON

(MB

OP

D)

Historical Historical OutputOutput

Projection to 2015Projection to 2015

No Operating Effort Profile

No Operating Effort Profile

On Going Field Development

On Going Field Development

Marginal FieldsMarginal Fields

Brown FieldsBrown Fields

Expected New Fields Developments

Expected New Fields Developments

New Potential DevelopmentNew Potential Development

Maintenance Optimalization

Maintenance Optimalization

New Potential Developments, Prod. opportunity of expected

fields, result from discoveries in 20052007.

POD submitted by year 2007/2008.

Prod. Starting from 2009/2011

INDONESIA OIL PRODUCTION PROFILE 1994-2015CASE-1

INDONESIA OIL PRODUCTION PROFILE 1994INDONESIA OIL PRODUCTION PROFILE 1994--20152015CASE-1

LEMIGASLEMIGASTERM AND CONDITION OF THE BLOCKS TERM AND CONDITION OF THE BLOCKS FOR THE FIRST ROUND BIDDING 2005FOR THE FIRST ROUND BIDDING 2005

GROSS PRODUCTION

Investment Credit

Max. Cost Recovery : 100%

EQUITY TO BE SPLIT

FTP Max. 20%

INDONESIA SHARE

CONTRACTOR SHARE

DMO Fee

DMO Max.25%

Tax 44%

INDONESIA TAKE CONTRACTOR TAKE

Taxable Income

(+) (-)

(+)(-)

(-)(+)

(+)

(+)

(-)

(-)(+)

(-)

FLOW OF REVENUE OF INDONESIA PSC (OLD)

FLOW OF REVENUE OF INDONESIA PSC (NEW)

GROSS PRODUCTION

Investment Credit

Max. Cost Recovery : 100%

EQUITY TO BE SPLIT

FTP Max. 10%

INDONESIA SHARE

CONTRACTOR SHARE

DMO Fee

DMO Max.25%

Tax 44%

INDONESIA TAKE CONTRACTOR TAKE

Taxable Income

(+) (-)

(+)(-)

(-)(+)

(+)

(+)

(-)

(-)

(+)

(-)

3LEMIGASLEMIGAS

135.3

117.9

4,533.5

886.8

738.0259.4

407.7

920.1

100.1

Aceh (NAD)

CentralSumatera

SouthSumatera

Irian Jaya (Papua)

OIL RESERVES (MM STB)

Natuna

East Java

East Kalimantan

North Sumatera

West Java

Maluku

PROVEN = 4,300.68 MM STBPOTENTIAL = 3,988.26 MM STBTOTAL = 8,288.94 MM STB

109.1

South Sulawesi

81.1

Indonesia Oil Reserves (incl. Condensate)Indonesia Oil Reserves (incl. Condensate)Proven & Potential, As Of 01Proven & Potential, As Of 01--0101--20042004

(Updated Sep 04)(Updated Sep 04)

LEMIGASLEMIGAS

8.670.78

8.21

24.47

6.04

4.46

54.20

47.39

4.36 23.92

ACEH (NAD)

SUMATERACENTRAL

SOUTH SOUTH SULAWESI

IRIAN JAYA (PAPUA)

GAS RESERVES (TCF)

NATUNA

EAST JAVA

SUMATERA

EAST KALIMANTANNorthSUMATERA

WEST JAVA

PROVEN = 94.78 TCFPOTENTIAL = 87.73 TCFTOTAL = 182.50 TCF

Indonesia Gas ReservesIndonesia Gas ReservesProven & Potential, As Of 01Proven & Potential, As Of 01--0101--20042004

Last Updated Sep 04Last Updated Sep 04

LEMIGASLEMIGAS

Proven

Potential

0

2,000

4,000

6,000

8,000

10,000

12,000

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

MMST

BMM

STB

Indonesia Oil Reserves (incl. Condensate)Indonesia Oil Reserves (incl. Condensate)Proven & Potential, ( 1980 Proven & Potential, ( 1980 -- 2004)2004)

LEMIGASLEMIGAS

Proven

Potential

0

20

40

60

80

100

120

140

160

180

200

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

TCF

TCF

Indonesia Gas ReservesIndonesia Gas ReservesProven & Potential, ( 1980 Proven & Potential, ( 1980 -- 2004)2004)

4LEMIGASLEMIGAS

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

1978

1979

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

(BCF)(BCF)

TotalTotal

VicoVico

ExxonMobilExxonMobil

PertaminaPertamina

UnocalUnocalBP Ind.BP Ind.

Proven Gas ReservesProven Gas ReservesFrom Producing Fields, ( 1966 From Producing Fields, ( 1966 -- 2004)2004)

LEMIGASLEMIGAS

DAERAH

01. ACEH 3.896,36 2.697,35 1.199,0102. NORTH SUMATERA 727,59 368,29 359,3003. CENTRAL & SOUTH SUMATERA 17.475,61 9.953,46 7.522,1504. WEST JAVA 5.190,07 3.318,00 1.872,0705. CENTRAL JAVA 105,66 - 105,6606. EAST JAVA 4.289,45 2.424,83 1.864,6207. EAST KALIMANTAN 31.813,69 13.516,97 18.296,7208. NATUNA 52.081,36 4.451,99 47.629,3709. SOUTH SULAWESI 3.653,99 156,38 3.497,6110. PAPUA 14.781,71 1.945,49 12.836,22

TOTAL INDONESIA 134.015,49 38.832,76 95.182,73

2P2P

COMMITTED DEMAND BALANCE

REMAINING RESERVES

NOTE :2 P = Proven + ProbableCommitted demand = Total requirement based on contract GSPA / GSABalance = Remaining reserves - Committed demandCommitted demand include contracts GSPA / GSA 2003 - 2004

Source : BP MIGAS

COMMITTED GAS DEMAND INDONESIACOMMITTED GAS DEMAND INDONESIA

LEMIGASLEMIGAS

U T ILIZ A T ION M M SC FD ( %)FER TILIZER / PETR OC HEM 6 3 0 ,5 8 ,1R EF IN ER Y 8 0 ,6 1,0LPG 2 8 ,5 0 ,4PGN 2 3 6 ,4 3 ,0C EM EN T 9 ,4 0 ,1ELEC T R IC ITY 6 9 6 ,5 8 ,9KR A KA T A U STEEL 78 ,9 1,0OT HER IN D U ST R IES*) 3 2 4 ,9 4 ,2OW N U SE 1.0 4 8 ,2 13 ,4LOST/ FLA R IN G 4 9 1,4 6 ,3TOTA L D OM ESTIC 3 .6 2 5,3 4 6 ,4

LN G 4 .0 8 2 ,0 52 ,2LPG 6 ,6 0 ,1GA S 10 4 ,8 1,3TOTA L EX POR T 4 .19 3 ,4 53 ,6

GAS UTILIZATION IN INDONESIA(YEAR 2001)

PROD7,80 BSCFD

PSC7,04 BSCFD

Perta

min

a0,

76 B

SCFD

53,6%

46,4%Domestic

Export

Source : DG Oil and Gas

LEMIGASLEMIGAS

DOMESTIC GAS PRICE(Per MMBTU)

0

0.5

1

1.5

2

2.5

3

3.5

FERTILIZERFERTILIZER ELECTRICITYELECTRICITY PGNPGN KSKS8080 9090 20002000

5LEMIGASLEMIGASGAS PIPELINE INFRASTRUCTUREGAS PIPELINE INFRASTRUCTURE

IN INDONESIAIN INDONESIA

1.1. Master plan of the National and Distribution Network of Natural Master plan of the National and Distribution Network of Natural

Gas Indonesia (Indonesia Integrated Gas Pipeline Master Plan)Gas Indonesia (Indonesia Integrated Gas Pipeline Master Plan)

2.2. Current Bidding of Gas Transmission Pipeline Infrastructure in Current Bidding of Gas Transmission Pipeline Infrastructure in

Java Island :Java Island :

-- CirebonCirebon SemarangSemarang 230 km 350230 km 350--500 MMSCFD500 MMSCFD

-- GresikGresik SemarangSemarang 250 km 350250 km 350--500 MMSCFD500 MMSCFD

3. Forthcoming Bidding of Gas Transmission Pipeline Infrastructu3. Forthcoming Bidding of Gas Transmission Pipeline Infrastructure :re :

-- East Kalimantan East Kalimantan Central Java 1220 km 700 Central Java 1220 km 700 1000 MMSCFD1000 MMSCFD

-- MuaraMuara BekasiBekasi CirebonCirebon 220 km 500 220 km 500 700 MMSCFD700 MMSCFD

LEMIGASLEMIGAS

Kategori 1: Open Access (Tidak Tender)

Pipeline rencana (plan) - Persetujuan Prinsip Pembangunan- Persetujuan Prinsip, telah terpasang

Kategori 2: Dedicated HilirPipeline yang telah ada (existing)Pipeline rencana (plan)

Kategori 3: Dedicated HuluPipeline yang telah ada (existing)Pipeline rencana (plan)

Wilayah jaringan distribusirencana (plan)

Kategori 1: Open AccessPipeline yang telah ada (existing)Pipeline rencana (plan), Tender

Wilayah jaringandistribusi yang telah ada

Wilayah jaringandistribusi

( l ) T d

LEGEND Sumber GasKonsumenKompresor

Regulator

KotaKilang

Petrokimia, Pabrik BajaPower Plant

Batas Wilayah

- Persetujuan Prinsip, telah terpasang

MASTER PLAN OF THE NATIONAL TRANSMISSION & DISTRIBUTION NETWORK OF NATURAL GAS

INDONESIA(Based on BPH (Based on BPH MigasMigas data)data)

LEMIGASLEMIGAS

OIL CONTAINING RESERVOIR

Cumulative Prod.

Remaining Reserves

Oil Reserves at primary recovery

Oil Potential at IOR/EOR stages

Original OIL In Place (OOIP)

LEMIGASLEMIGAS

DISTRIBUTION OF OIL RESERVES & DISTRIBUTION OF OIL RESERVES & PRODUCTION IN INDONESIAPRODUCTION IN INDONESIA

Cummulative prod. 19,916,408,300 STB

Remaining Primary Recovery4,782,290,700 STB

Target of EOR36,450,017,600 STB

OOIP of OIL FIELDS IN INDONESIA 61,148,716,600 STB

6LEMIGASLEMIGAS

INCENTIVES FOR EOR PROJECTINCENTIVES FOR EOR PROJECT

JOB SCHEME:JOB SCHEME: DMO of Incremental Oil (export oil price applied for first 5 yeaDMO of Incremental Oil (export oil price applied for first 5 year)r) INVESTMENT CREDIT (17%)INVESTMENT CREDIT (17%)

PSC SCHEME:PSC SCHEME: DMO of Incremental Oil (export oil price applied for first 5 yeDMO of Incremental Oil (export oil price applied for first 5 year)ar) INVESTMENT CREDIT (20% for Capital cost relating to EOR OperatioINVESTMENT CREDIT (20% for Capital cost relating to EOR Operation)n)

LEMIGASLEMIGAS

DEVELOPMENT OF EOR METHODS DEVELOPMENT OF EOR METHODS (GENERAL APPLICATION)(GENERAL APPLICATION)

1. INJECTION OF GAS (NITROGEN) 1. INJECTION OF GAS (NITROGEN) 2. INJECTION OF HYDROCARBON GAS2. INJECTION OF HYDROCARBON GAS3. INJECTION OF GAS (CO3. INJECTION OF GAS (CO22))4. INJECTION OF GAS IMMICIBLE4. INJECTION OF GAS IMMICIBLE5. INJECTION OF MICELAR5. INJECTION OF MICELAR6. INJECTION OF POLYMER6. INJECTION OF POLYMER7. INJECTION OF ASP (ALKALIN7. INJECTION OF ASP (ALKALIN--SURFACTANSURFACTAN--POLYMER)POLYMER)8. COMBUSTION8. COMBUSTION9. INJECTION OF STEAM9. INJECTION OF STEAM10. INJECTION OF MICROBIAL10. INJECTION OF MICROBIAL

LEMIGASLEMIGAS

STAGE OF EOR EVALUATIONSTAGE OF EOR EVALUATION Screening EORScreening EOR Laboratories studyLaboratories study Reservoir SimulationReservoir Simulation Economic studyEconomic study Pilot ProjectPilot Project Full scaleFull scale

LEMIGASLEMIGAS

ViscosityViscosity GravityGravity CompositionComposition Oil SaturationOil Saturation Formation TypeFormation Type Net ThicknessNet Thickness Ave. PermeabilityAve. Permeability DepthDepth TempTemp

Reservoir Parameters METHOD OF EOR Nitrogen and Flue Gas Hydrocarbon CO2 Immiscible gas Micellar/ASP/Alkaline Polymer Combustion Steam Microbial

Choice ofMethods

Screening on EOR MethodsScreening on EOR Methods

7MICROBIAL MICROBIAL INJECTIONINJECTION

LEMIGASLEMIGAS

EVALUATION OF MICROBIAL INJECTIONEVALUATION OF MICROBIAL INJECTION

Study of MEOR in the PERTAMINA Oil Study of MEOR in the PERTAMINA Oil FieldField

Study of Lemigas MEOR Technology Study of Lemigas MEOR Technology Application in Application in TanjungTanjung Oil Field (Talisman Oil Field (Talisman Ltd)Ltd)

LEMIGASLEMIGAS

BIOPRODUCTS & MEOR MECHANISM

) Bio-solvents: Reducing viscosity, increasing effective permeability, dissolving oil

) Bio-surfactant: Reducing inter-facial strength) Biomass: Plugging (selective/non-selective), changing in rock

wettability) Bio-gas (CO2, CH4, H2): Reducing viscosity, Oil swelling,

increasing permeability and reservoir pressure) Bio-polymer: Controlling mobility, plugging (selective/non-selective ) Bio-acid: Increasing poroperm of carbonate reservoirs

LEMIGASLEMIGAS

METHODE of INJECTIONMETHODE of INJECTION

Nutrition InjectionNutrition Injection Potential Potential mikrobialmikrobial InjectionInjection

8LEMIGASLEMIGAS

0

5

10

15

20

25

30

35

0 20 40 60 80TIME (Daily)

0

50

100

150

200

250

300

350

400

OIL PRODUCTION/DAY

CUMMULATIVE OIL PROD.

Barrel Barrel/day

OIL PRODUCTION PERFORMANCEMEOR IN LDK- 132 WELL

STEAM INJECTIONSTEAM INJECTION

LEMIGASLEMIGAS

Mature Steamflood Behavior

DURI FIELD EXAMPLE

Steam cut in Nov 2003

Steam cut in May 2001

LEMIGASLEMIGAS

0

100

200

300

400

71 73 75 77 79 81 83 85 87 89 91 93 95 97 99 '01

Steamflood

Primary

RF = 50RF = 50--80%80%

RF = 8-11%

MBOPD

Duri Field Production HistoryDuri Field Production History

15

9LEMIGASLEMIGAS

Started production in 1975 under natural depletion.Started production in 1975 under natural depletion.

Started water injection in 1978 then full scale of Started water injection in 1978 then full scale of water injectionwater injection in 1980.in 1980.

Started Started 11stst phasephase lean gas injection in 1995 & lean gas injection in 1995 & 22nd nd phasephase in 2000.in 2000.

HANDIL FIELD EXAMPLEHANDIL FIELD EXAMPLE

LEMIGASLEMIGAS

Oil reserves statusOil reserves statusOOIP (OOIP (MMstbMMstb) / Oil Initial Reserves () / Oil Initial Reserves (MmstbMmstb))

1P1P 17001700 / / 8558552P2P 1803 1803 // 893893

PRODUCED END 2002 :PRODUCED END 2002 :818 818 MmstbMmstb96 % of 1P Initial reserves 96 % of 1P Initial reserves 92 % of 2P Initial reserves92 % of 2P Initial reserves

LEMIGASLEMIGAS

Gas reserves statusGas reserves status

IGIP(TCF)IGIP(TCF) / Gas Initial Reserves (TCF)/ Gas Initial Reserves (TCF)

1P1P 3.031 3.031 / / 2.0552.0552P2P 3.214 3.214 // 2.1752.175

PRODUCED END 2002 :PRODUCED END 2002 : 1.577 TCF1.577 TCF77% of 1P Initial Reserves77% of 1P Initial Reserves73% of 2P Initial Reserves73% of 2P Initial Reserves

LEMIGASLEMIGAS

HandilHandil Cumulative ProductionCumulative Production

Oil cumulative at end 2002 : 818 Oil cumulative at end 2002 : 818 MMstbMMstbCum. Oil natural depletionCum. Oil natural depletion : 261 : 261 MMstbMMstb ( 32 %)( 32 %)Cum. Oil Water InjectionCum. Oil Water Injection : 549 : 549 MMstbMMstb ( 67 %)( 67 %)Cum. Oil IORCum. Oil IOR : 8 : 8 MMstbMMstb ( 1 %)( 1 %)

6 6 MMstbMMstb ((11stst phasephase) + 2 ) + 2 MMstbMMstb ((22ndnd phasephase). ).

10

WATER WATER INJECTIONINJECTION

LEMIGASLEMIGASWater injectionWater injection

Water injection started up in OctWater injection started up in Oct--1978.1978.

Full scale water injection started up in Full scale water injection started up in year 1980.year 1980.

Water injection to 81 reservoirs (1060 Water injection to 81 reservoirs (1060 MMbblMMbbl) in MAIN zone.) in MAIN zone. NpNp @Dec02 = 549 @Dec02 = 549 MMbblMMbbl (RF = 52%)(RF = 52%)

Prolong the oil production plateau from Prolong the oil production plateau from the injected reservoirsthe injected reservoirs

LEMIGASLEMIGASReservoir 19Reservoir 19--0N 0N peripheral water injectionperipheral water injection

HKA442

OOIP=110

HP212

HSA326 GI

H316 HD414

H417HD319

HJ520

HJ525

HA3

HP410

HT228

HT225

HAA443

HS429HZB626

H811

H501H401

HTC219

HT220

HT1

LEMIGASLEMIGASHANDIL PRODUCTION HANDIL PRODUCTION HISTORYHISTORY

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

J-74

J-75

J-76

J-77

J-78

J-79

J-80

J-81

J-82

J-83

J-84

J-85

J-86

J-87

J-88

J-89

J-90

J-91

J-92

J-93

J-94

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

Date

Oil

rate

(bop

d)

water rate2nd IOR1st IORWI

START WATER INJECTION

START 1st IOR

START 2nd IOR

11

IOR: LEAN GAS IOR: LEAN GAS INJECTIONINJECTION

LEMIGASLEMIGASHANDIL PRODUCTION HANDIL PRODUCTION HISTORYHISTORY

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

J-74

J-75

J-76

J-77

J-78

J-79

J-80

J-81

J-82

J-83

J-84

J-85

J-86

J-87

J-88

J-89

J-90

J-91

J-92

J-93

J-94

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

J-03

Date

Oil

rate

(bop

d)

2nd IOR1st IORWIprimary

START WATER INJECTION

START 1st IOR

START 2nd IOR

LEMIGASLEMIGASHANDIL PRODUCTION HANDIL PRODUCTION HISTORYHISTORY

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

J-74

J-75

J-76

J-77

J-78

J-79

J-80

J-81

J-82

J-83

J-84

J-85

J-86

J-87

J-88

J-89

J-90

J-91

J-92

J-93

J-94

J-95

J-96

J-97

J-98

J-99

J-00

J-01

J-02

J-03

Date

Oil

rate

(bop

d) IOR 2nd phaseSTART WATER INJECTION

START 2nd IOR

LEMIGASLEMIGAS

THANK YOU FOR YOUR ATTENTIONTHANK YOU FOR YOUR ATTENTION

12

LEMIGASLEMIGAS

PERTAMINA SHARE OF COST EXPENSEPERTAMINA SHARE OF COST EXPENSE

CONTRACTOR SHARE OF COSTS EXPENSE

CONTRACTOR SHARE OF COSTS EXPENSE

NET PERTAMINA PROFIT

NET PERTAMINA PROFIT

NET PERTAMINA PROFIT

NET PERTAMINA PROFIT

NET CONTRACTOR PROFIT

NET CONTRACTOR PROFIT

REIMBURSEMENT OF PERTAMINA SHARE OF

NON CAPITAL COSTS PLUS 30% UPLIFT

REIMBURSEMENT OF PERTAMINA SHARE OF

NON CAPITAL COSTS PLUS 30% UPLIFT

GOVERNMENT TAX

GOVERNMENT TAX

REIMBURSEMENT OF PERTAMINA SHARE OF NON CAPITAL COSTS

PLUS 30% UPLIFT

REIMBURSEMENT OF PERTAMINA SHARE OF NON CAPITAL COSTS

PLUS 30% UPLIFT

CONTRACTOR ENTITLEMENTCONTRACTOR ENTITLEMENT

PERTAMINA ENTITLEMENTPERTAMINA

ENTITLEMENT

EQUITY TO BE SPLIT

EQUITY TO BE SPLIT

GROSS REVENUEGROSS REVENUE

50%50% 50%50%

85%85%

65%65% 48%48%

Max.Max. 65%65%

71.1538%71.1538% 28.8642%28.8642%

JOINT OPERATING BODY (JOB)JOINT OPERATING BODY (JOB)EOR CONTRACT SCHEMEEOR CONTRACT SCHEME

(BETWEEN PERTAMINA & CONTRACTOR)(BETWEEN PERTAMINA & CONTRACTOR)

SOURCE: EOR SYMPOSIUM, 1990SOURCE: EOR SYMPOSIUM, 1990