SOCIALIZATION OF NOVATION AGREEMENT

MAY 15, 2018

 PHE SELECTED CONTRACTS GROUPING

30
Amend the Contract Period
Contracts by CNOOC SES Ltd. until 5 Sep 2018
Expired before 5 Sept 2018 then mirroring by PHE OSES

As of 5 Mar As of 9 May 2018

2018

31
222 219 Mirroring
Contracts
Contracts Contracts by PHE OSES
Expired on 5 Sept 2018

165
Novation
Contracts
by CNOOC SES Ltd.
Expired after 5 Sept 2018
7
New
Contracts

Data Cut of: 9 May 2018

CNOOC SES Ltd. 2

 DEFINITION

NOVATION NOVASI

A new agreement that Suatu perjanjian baru yang

replaces the old agreement
with the underlying of new
commitment. Replacement of
such agreement may occur to
the parties.
menggantikan perjanjian
lama dengan dasar perikatan
yang baru. Penggantian atas
perjanjian tersebut dapat
terjadi terhadap para pihak.

CNOOC SES Ltd. 3

 WHY CONTRACT NOVATION ?

Novation of CNOOC SES Ltd. (“CNOOC”) contract to PT Pertamina Hulu

Energi OSES (“PHE OSES”) are implemented due to:

The expiry of CNOOC’s Production Sharing Contract (“PSC”) in
Southeast Sumatra Working Area on September 5, 2018; and

The signing of new Southeast Sumatra Working Area PSC by PHE OSES
on April 20, 2018, which is effective as of September 6, 2018;and

The Contracts have Optional Period starting as of September 6, 2018.

Based on Novation Agreement, PHE OSES as will exercise the Optional

Period of the contract

CNOOC SES Ltd. 4

 BASIS ARTICLES IN MAIN CONTRACT FOR NOVATION

Basis for Novation in the Contract or Charter Hire

1. Term of Contract

2. Assignment by Company

3. Confidential Relationship

CNOOC SES Ltd. 5

 TERM OF CONTRACT (PERIOD)
Term of Contract
 The Term shall commence as of __________________, 20__ (the
“Commencement Date”), will continue in full force and effect
for a term of _______ months/year until the commitment term
shall expire on September 5, 2018, at which time the Contract
shall expire unless earlier terminated in accordance with the
provisions of the Contract; while the optional term will
commence as of September 6, 2018 for a term of ____
months/years until ____, 20__ at which time the Contract shall
expire unless earlier terminated in accordance with the provisions
of the Contract.
 COMPANY shall have the right as its sole option to exercise the
optional term or otherwise, COMPANY shall have the right to
transfer the COMPANY’s obligation to the COMPANY’s
successor upon September 5, 2018 by giving prior written notice
at least six (6) months before the end of the commitment term.
 The COMPANY’s successor shall have the right at its sole option to
enter into the Contract by exercising maximum or partial of the
optional term. All the terms and conditions under the Contract
shall be complied by CONTRACTOR and COMPANY or the
COMPANY’s successor during any optional term.
Optional Period stipuations in the Contract or Charter Hire
CNOOC SES Ltd.
Jangka Waktu Kontrak
 Jangka Waktu akan dimulai sejak _____________, 20__
(“Tanggal Dimulai”), akan terus berlaku dan efektif secara
penuh untuk jangka waktu ____ (__) bulan/tahun hingga
jangka waktu komitmen berakhir pada 5 September 2018,
dimana pada saat tersebut Kontrak akan berakhir kecuali
diakhiri lebih awal sesuai dengan ketentuan Kontrak; sementara
jangka waktu opsional akan mulai sejak tanggal 6 September
2018 untuk jangka waktu _____ bulan/tahun hingga _____,
20__ yang mana pada waktu tersebut Kontrak menjadi berakhir
kecuali diakhiri terlebih dahulu sesuai dengan ketentuan Kontrak.
 PERUSAHAAN berhak atas pilihannya sendiri untuk
menggunakan jangka waktu opsional atau sebaliknya,
PERUSAHAAN berhak untuk mengalihkan kewajiban
PERUSAHAAN kepada penerus PERUSAHAAN setelah 5
September 2018 dengan memberikan pemberitahuan tertulis
paling sedikit 6 (enam) bulan sebelum akhir jangka waktu
komitmen.
Penerus PERUSAHAAN berhak atas pilihannya sendiri untuk
mengadakan Kontrak dengan menggunakan maksimum atau
sebagian jangka waktu opsional. Semua syarat dan ketentuan
berdasarkan Kontrak harus dipenuhi oleh KONTRAKTOR dan
PERUSAHAAN atau penerus PERUSAHAAN sepanjang
jangka waktu opsional.
6
 ASSIGNMENT BY COMPANY
Assignment by COMPANY
COMPANY shall be entitled to assign any or all of its rights,
benefits or obligations under the Contract to:
its Affiliates or a CO-VENTURER, and CONTRACTOR
hereby consents to such assignment and shall do all things
necessary to facilitate such assignment, including signing
all necessary documents;
CNOOC SES Ltd.
Pengalihan oleh PERUSAHAAN
PERUSAHAAN berhak untuk mengalihkan setiap atau
seluruh hak, keuntungan atau kewajibannya berdasarkan
Kontrak kepada:
Afiliasi atau CO-VENTURERnya, dan KONTRAKTOR
dengan ini menyetujui pengalihan tersebut dan akan
melakukan seluruh hal yang diperlukan untuk memfasilitasi
pengalihan tersebut, termasuk penandatanganan seluruh
dokumen yang diperlukan;
7
 CONFIDENTIAL RELATIONSHIP
CONFIDENTIAL RELATIONSHIP
COMPANY owns all right, title and interest to any and all
Confidential Information.
“Confidential Information” means any information or material
(whether the information is in oral, visual or written form or is
recorded in any other medium and including data provided to
COMPANY by third parties) disclosed, communicated or
delivered by or on behalf of COMPANY to, or obtained directly or
indirectly from COMPANY by, CONTRACTOR or any
CONTRACTOR Personnel, or generated by CONTRACTOR or
the CONTRACTOR Personnel solely or jointly with others in
performing its obligations under the Contract, and includes
discoveries, ideas, concepts, software in various stages of
development, designs, drawings, specifications, techniques,
models, data, source codes, object code, documentation,
diagrams, flow charts, processes and procedures.”
The obligations in this Article of Confidential Relationship
survive expiry and termination of the Contract.
Based on this Article, CNOOC allows to disclose the Contract or Charter Hire
document between CNOOC and Contractor to PHE OSES
CNOOC SES Ltd.
HUBUNGAN KERAHASIAAN
PERUSAHAAN memiliki seluruh hak, kepemilikan dan
kepentingan terhadap setiap dan seluruh Informasi Rahasia.
“Informasi Rahasia” berarti setiap informasi atau materi (baik
informasi tersebut dalam bentuk lisan, visual atau tertulis atau
dicatat dalam suatu media lainnya dan termasuk data yang
diberikan kepada PERUSAHAAN oleh pihak-pihak ketiga) yang
diungkapkan, dikomunikasikan atau diserahkan oleh atau atas
nama PERUSAHAAN kepada, atau diperoleh secara langsung
atau tidak langsung dari PERUSAHAAN melalui, KONTRAKTOR
atau Personil KONTRAKTOR, atau diperoleh oleh
KONTRAKTOR atau Personil KONTRAKTOR sendiri ataupun
bersama-sama dengan pihak lain dalam melaksanakan
kewajibannya berdasarkan Kontrak, dan termasuk penemuan,
ide, konsep, piranti lunak dalam berbagai tahap pengembangan,
desain, gambar, spesifikasi, teknik, model, data, kode sumber,
kode obyek, dokumentasi, diagram, skema alur, proses dan
prosedur.
Kewajiban dalam Pasal Hubungan Kerahasiaan ini tetap
berlaku meskipun Kontrak berakhir atau diakhiri.
8
 NOVATION PERIOD

September 5, 2018 (24:00 WIB)

CNOOC Period PHE OSES Period

Commitment Term Optional Term

September 6, 2018 (00:01 WIB)

CNOOC, PHE OSES & Contractor/Owner will Effective date of the Novation Agreement:
enter into Novation Agreement to any contract September 6, 2018
before September 5, 2018

CNOOC SES Ltd. 9

 EFFECTIVE OF NOVATION AGREEMENT

The replacement of “COMPANY”/“CHARTERER” in all the

Contract/CHARTER from CNOOC SES Ltd. to PT Pertamina
Hulu Energi OSES.

Effective of Novation Agreement as of September 6, 2018 (00.01
hours).

New Parties in Contract / Charter Hire:
PT Pertamina Hulu Energi OSES and Contractor/ Owner

CNOOC SES Ltd. 10

 SIGNING MECHANISM OF NOVATION AGREEMENT

Estimated Lead Time Process:

2 months until end of July 2018

CNOOC SES Ltd. 11

 NOVATION AGREEMENT

Parties of Novation Agreement :

• The Assignor, CNOOC SES Ltd.,
• The Assignee, PT Pertamina Hulu Energi OSES and
• Contractor or Owner

Novation of the Contract from the Assignor to the Assignee.

All Terms and Conditions of the Contract shall remain in full force
and effect in the Novation Agreement.

Contractor shall release and discharge the Assignor from all
liabilities and obligations attributable to the Contract.

Contractor is responsible to the changes on Insurance Coverage,
PB and other bonds & licenses from the Assignor to the Assignee
including any charges incurred.

CNOOC SES Ltd. 12

 CLOSING

After this sosialization, CNOOC

will prepare the Novation
Agreement and immediatly
distribute to PHE OSES and
Contractor/Owner for signing

CNOOC SES Ltd. 13

CNOOC SES Ltd. 14