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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 menggantikan perjanjian
with the underlying of new lama dengan dasar perikatan
commitment. Replacement of yang baru. Penggantian atas
such agreement may occur to perjanjian tersebut dapat
the parties. 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 Jangka Waktu Kontrak


 The Term shall commence as of __________________, 20__ (the  Jangka Waktu akan dimulai sejak _____________, 20__
“Commencement Date”), will continue in full force and effect (“Tanggal Dimulai”), akan terus berlaku dan efektif secara
for a term of _______ months/year until the commitment term penuh untuk jangka waktu ____ (__) bulan/tahun hingga
shall expire on September 5, 2018, at which time the Contract jangka waktu komitmen berakhir pada 5 September 2018,
shall expire unless earlier terminated in accordance with the dimana pada saat tersebut Kontrak akan berakhir kecuali
provisions of the Contract; while the optional term will diakhiri lebih awal sesuai dengan ketentuan Kontrak; sementara
commence as of September 6, 2018 for a term of ____ jangka waktu opsional akan mulai sejak tanggal 6 September
months/years until ____, 20__ at which time the Contract shall 2018 untuk jangka waktu _____ bulan/tahun hingga _____,
expire unless earlier terminated in accordance with the provisions 20__ yang mana pada waktu tersebut Kontrak menjadi berakhir
of the Contract. kecuali diakhiri terlebih dahulu sesuai dengan ketentuan Kontrak.

 COMPANY shall have the right as its sole option to exercise the  PERUSAHAAN berhak atas pilihannya sendiri untuk
optional term or otherwise, COMPANY shall have the right to menggunakan jangka waktu opsional atau sebaliknya,
transfer the COMPANY’s obligation to the COMPANY’s PERUSAHAAN berhak untuk mengalihkan kewajiban
successor upon September 5, 2018 by giving prior written notice PERUSAHAAN kepada penerus PERUSAHAAN setelah 5
at least six (6) months before the end of the commitment term. September 2018 dengan memberikan pemberitahuan tertulis
paling sedikit 6 (enam) bulan sebelum akhir jangka waktu
komitmen.

 The COMPANY’s successor shall have the right at its sole option to Penerus PERUSAHAAN berhak atas pilihannya sendiri untuk
enter into the Contract by exercising maximum or partial of the mengadakan Kontrak dengan menggunakan maksimum atau
optional term. All the terms and conditions under the Contract sebagian jangka waktu opsional. Semua syarat dan ketentuan
shall be complied by CONTRACTOR and COMPANY or the berdasarkan Kontrak harus dipenuhi oleh KONTRAKTOR dan
COMPANY’s successor during any optional term. PERUSAHAAN atau penerus PERUSAHAAN sepanjang
jangka waktu opsional.

Optional Period stipuations in the Contract or Charter Hire

CNOOC SES Ltd. 6


ASSIGNMENT BY COMPANY

Assignment by COMPANY Pengalihan oleh PERUSAHAAN


COMPANY shall be entitled to assign any or all of its rights,
benefits or obligations under the Contract to: PERUSAHAAN berhak untuk mengalihkan setiap atau
seluruh hak, keuntungan atau kewajibannya berdasarkan
Kontrak kepada:
its Affiliates or a CO-VENTURER, and CONTRACTOR
hereby consents to such assignment and shall do all things Afiliasi atau CO-VENTURERnya, dan KONTRAKTOR
necessary to facilitate such assignment, including signing dengan ini menyetujui pengalihan tersebut dan akan
all necessary documents; melakukan seluruh hal yang diperlukan untuk memfasilitasi
pengalihan tersebut, termasuk penandatanganan seluruh
dokumen yang diperlukan;

CNOOC SES Ltd. 7


CONFIDENTIAL RELATIONSHIP

CONFIDENTIAL RELATIONSHIP HUBUNGAN KERAHASIAAN

COMPANY owns all right, title and interest to any and all PERUSAHAAN memiliki seluruh hak, kepemilikan dan
Confidential Information. kepentingan terhadap setiap dan seluruh Informasi Rahasia.

“Confidential Information” means any information or material “Informasi Rahasia” berarti setiap informasi atau materi (baik
(whether the information is in oral, visual or written form or is informasi tersebut dalam bentuk lisan, visual atau tertulis atau
recorded in any other medium and including data provided to dicatat dalam suatu media lainnya dan termasuk data yang
COMPANY by third parties) disclosed, communicated or diberikan kepada PERUSAHAAN oleh pihak-pihak ketiga) yang
delivered by or on behalf of COMPANY to, or obtained directly or diungkapkan, dikomunikasikan atau diserahkan oleh atau atas
indirectly from COMPANY by, CONTRACTOR or any nama PERUSAHAAN kepada, atau diperoleh secara langsung
CONTRACTOR Personnel, or generated by CONTRACTOR or atau tidak langsung dari PERUSAHAAN melalui, KONTRAKTOR
the CONTRACTOR Personnel solely or jointly with others in atau Personil KONTRAKTOR, atau diperoleh oleh
performing its obligations under the Contract, and includes KONTRAKTOR atau Personil KONTRAKTOR sendiri ataupun
discoveries, ideas, concepts, software in various stages of bersama-sama dengan pihak lain dalam melaksanakan
development, designs, drawings, specifications, techniques, kewajibannya berdasarkan Kontrak, dan termasuk penemuan,
models, data, source codes, object code, documentation, ide, konsep, piranti lunak dalam berbagai tahap pengembangan,
diagrams, flow charts, processes and procedures.” desain, gambar, spesifikasi, teknik, model, data, kode sumber,
kode obyek, dokumentasi, diagram, skema alur, proses dan
prosedur.
The obligations in this Article of Confidential Relationship Kewajiban dalam Pasal Hubungan Kerahasiaan ini tetap
survive expiry and termination of the Contract. berlaku meskipun Kontrak berakhir atau diakhiri.

Based on this Article, CNOOC allows to disclose the Contract or Charter Hire
document between CNOOC and Contractor to PHE OSES

CNOOC SES Ltd. 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