Kondur Petroleum S.A.
The name of ‘ Kondur’ is taken from the name of one of the islands situated in the original acreage of Malacca Straits PSC ( Production Sharing Contract) , which at that time covers an area of 39, 550 square kilometers. However, after several relinquishment episodes as stipulated in the Contract, the Kondur Island has since been returned to the Government.
Kondur is a company established under the national law of Panama Republic late on December 17, 1967 and was a subsidiary of US Firm Ingram and other American Industrial concerns.
During its early phase of the Malacca Straits PSC in the 1970’ s, most of Kondur’ s working interests were transferred to several international oil companies and so its operator ship privilege, choosing to retain only five percent of the Malacca Strait working interests.
After this took place, a succession of foreign oil companies including ARCO became operators. Then, Hudbay Oil ( Malacca Strait) Ltd. took over the PSC in 1978. The operation continued with technical assistance provided among others by British Petroleum. In 1991, the operator’ s name was changed to Lasmo Oil ( Malacca Strait) Ltd.
In mid 1995, RHI ( Resource Holding Incorporation) , the principal company of Kondur Petroleum S.A. was acquired by Far Eastern Hydrocarbon Ltd., a company under Indonesian ownership.
When Lasmo Oil sold all their working interest in the Malacca Strait PSC in the same year, Kondur Petroleum S.S., as one of the partners in the PSC Joint Venture, used its preemptive right to take over of the Lasmo interests.
On September 11, 1995, Kondur Petroleum S.A. was unanimously chosen by the partners in the joint venture to be the ‘ operator’ succeeding the Lasmo. The acquisition process and the change of operator ship ended on October 12, 1995 and that date is inaugurated as the historical date for Kondur.
On February 6, 2003, PT Energi Mega Persada Tbk. ( EMP) all of Kondur Petroleum S.A. interest in the Malacca Strait Block. In mid 2004, Kondur Petroleum S.A. becomes a public company under EMP listing at Jakarta Stock Exchange.
Main producing oil fields are Lalang and Mengkapan ( offshore) , Kurau and Melibur ( onshore) , and Selatan field, a plethora of small oil accumulations reside partly onshore. The crude oil produced are processed at Melibur, Kurau, and Lalang production process plants, and the ready to export oil is sent to the Lalang Marine Terminal, a one million barrels floating oil storage barge OSB Ladinda that tied up to a Single Point Offshore Loading System ( SPOLS) . The crude is shipped to the buyer through ship transfer operation at this terminal.
Kondur Petroleum S.A. intends to be a distinguished-remarkable, reliable, efficient, highly profitable, and an independent company with particular focus in oil and gas exploration and production.
Kondur Petroleum S.A. as associate of the host countries will perform all the required activities in exploration, production, and development of oil and gas assets in a safe, efficient, and reliable manner, and will optimize the assets values and maximize profitability in the best interest of all stakeholders.
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