University:
Duke University
Course:
MMS 450 | Markets and Management Capstone
Academic year:

2023
Views:

454

Pages:

2
Author:

B. Duniawi

Joint Operating Agreement (JOA) Type of Contract Joint Operating Agreement Management Pertamina Pertamina Control Body Pertamina - Contractor Operator Pertamina Contractor (JOB) Investment Contractor (Explo + appr. + dev. 1st field) Development 50/50 Term 30 years Initial Phase Exploration Seismic + Exploration Drilling Commitment Determined in the contract, firm 2 - 3 years Termination/ Back-out Only after 2/3 years Commerciality Pertamina/Contractor Declaration Of Commercial Viability of the Project Development Phase Approved Work Program + Budget Proceeds (Oil) After Cost Recovery 85/15, Pertamina / Contractor Corporate Taxes Yes (44%) Cost Recovery Full Recovery / Depreciation Uplift 50% on Advance to Pertamina, max. 35% Past Expenditure Yes - to be matched and reimbursed to Pertamina Investment Credit Yes (17%) Interest on Loan Yes Custom Duty Exemption Gas Entitled Domestic market obligation 10% of export price after 5 years Entitlement to Equipment Become Property of Pertamina Operating Body JOINT OPERATING BODY Relinquishment Gradually, year 3 = 25%, year 6 = 25% and year 10 = 30% Flow of Oil

Joint Operating Agreement (JOA)

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