Bunga Mas PSC definition

Bunga Mas PSC means the Bunga Mas production sharing contract in respect of certain prospective oil properties located onshore in South Sumatra, Indonesia;
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Examples of Bunga Mas PSC in a sentence

  • The producing Musi (gas) and ▇▇▇▇ (oil) fields are located to the northwest of the Bunga Mas PSC and a number of other oil producing fields are located to the north of the asset.

  • Bunga Mas PSC is an exploration and appraisal asset where there has been no production to date.

  • The Pilona TAC expires in October 2016 and, given the exploration potential from the deeper and untapped Air Benakat, Talang Akar and Batu Raja formations and potential synergies and infrastructure sharing with our other assets in the proximity (Tanjung Lontar KSO and Bunga Mas PSC), we are considering whether to seek to extend our interest in these fields through the establishment of a KSO with Pertamina.

  • The Bunga Mas PSC covers an exploration area located within the Southern Palembang sub- basin of the South Sumatra basin.

  • Through acquiring control of BME by purchasing US$4.5 million mandatorily convertible bonds (the “MCBs”) issued by BME’s parent PBS (such amount based on the valuation of BME’s interest in the Bunga Mas PSC), we then acquired a further 12.5% interest in July 2008 and another 12.5% interest in December 2010.

  • We are active in the operatorship of the Bunga Mas PSC in cooperation with our partner BMIC who is the operator of record for the concession.

  • Our Working Interest share of resources at the Bunga Mas PSC as of March 31, 2014 is set out below: Low estimate 4,956 36,026 Best estimate 13,430 92,684 High estimate 32,899 193,930 Prospective resources mean estimate 16,539 105,037 Pg Adjusted mean estimate 2,646 Note: 11,644 (1) Attributable to the Air Benakat and Talang Akar formations in the BM-1, BM-2, BM-3 and Sepatu prospects.

  • We hold an aggregate 49.0% participating interest in the Bunga Mas PSC through the acquisition of indirect controlling interests in PT Bunga Mas Energi (“BME”) and direct controlling interests in DFP.