Arbitration and dispute resolution
Disputes, if any, arising between Pertamina and Apex (Bengara-II) Ltd. relating to this contract or the interpretation and performance of...
Audit mechanisms - financial obligations
Apex (Bengara-II) Ltd. shall have the right to inspect and audit Pertamina's books and accounts relating to this contract for...
Bonuses
Apex (Bengara-II) Ltd. shall pay to Pertamina as compensation for information now held by Pertamina the sum of US$ 250,000...
Confidentiality
Apex (Bengara-II) Ltd. shall not disclose geological, geophysical, petrophysical, engineering, well logs, completion status reports and any other data as...
Environmental impact assessment and management plan
Apex (Bengara-II) Ltd. shall conduct an environmental baseline assessment at the beginning of its activities.
Apex (Bengara-II) Ltd. shall include with...
Environmental protections
Apex (Bengara-II) Ltd. shall take the necessary precautions for protection of ecological systems, navigation and fishing and shall prevent extensive...
Income tax: rate
Apex (Bengara-II) Ltd. shall be subject to and pay to the government the income tax and the final tax on...
Local employment
Apex (Bengara-II) Ltd. agrees to employ qualified Indonesian personnel in operations
Local procurement
Apex (Bengara-II) Ltd. shall give preference to such goods and services which are produced in Indonesia or rendered by Indonesian...
Other - financial/fiscal
Apex (Bengara-II) Ltd. may recover investment credits amounting to:
- 15.7800% of the capital investment costs directly required for developing crude...
Other - operational
Apex (Bengara-II) Ltd. shall be willing to consider to come to another contract or loan agreement for the processing of...
Production Share - Cost Oil features (basis of calculation, limits on cost recovery - e.g. as % of revenue or production, capex uplift, etc.)
Apex (Bengara-II) Ltd. will recover all operating costs out of the sales proceeds or other disposition of the required quantity...
Production Share - "Profit Oil features (triggers for variations in split - IRR, factor, production, etc .)
Of the crude oil remaining after deducting operating costs the parties shall be entitled to take and receive each year:
(a)...
Stabilization
No term or provision of this contract, including the agreement of the parties to submit to arbitration, shall prevent or limit the government for exercising its inalienable rights
State agency, national company or ministry executing the document
Perusahaan Pertambangan Minyak Dan Gas Bumi Negara (Pertamina)
State participation
Pertamina shall have the right to demand from Apex (Bengara-II) Ltd. that 10% of Apex (Bengara-II) Ltd.'s undivided interest in...
Term
The term of the contract shall be 30 years from the effective date. (This includes up to 10 years of exploration.)
Training
After commercial production commences Apex (Bengara-II) Ltd. will undertake the schooling and training of Indonesian personnel for labor and staff...
Work and investment commitments
The amount to be spent and the work program to be carried out by Apex (Bengara-II) Ltd. in conducting exploration...
Country
Indonesia
Signature Year
1997
Resource
Hydrocarbons
Type of Contract
Production or Profit Sharing Agreement
Open Contracting Identifier
ocds-591adf-8844534381
Disclosure Mode
Security exchange
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