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  VICO at a glance

Virginia Indonesia Company, LLC ("VICO") is the operator of the Sanga Sanga Production Sharing Contract (PSC). Other companies holding interest in the Sanga Sanga PSC include Virginia International Company, LLC, BP East Kalimantan Ltd., Lasmo Sanga Sanga Ltd., OPICOIL Houston, Inc., and Universe Gas and Oil Company. Collectively these companies holding interest in the Sanga Sanga PSC have historically been referred to as the IJV (Indonesian Joint Venture).

The BP and Eni groups each hold direct and indirect interests in the Sanga Sanga PSC. Through their holdings, the BP and Eni groups each hold a net interest of 37.813% in the Sanga Sanga PSC.

The following table shows the IJV participants interest in the Sanga-Sanga PSC :

Entity
Sanga Sanga PSC Interest (%)
Virginia Indonesia Co., LLC 7.500
OPICOIL Houston, Inc. 20.000
LASMO Sanga Sanga Limited 26.250
BP East Kalimantan Limited 26.250
Universe Gas and Oil Company, Inc. 4.375
Virginia International Co., LLC 15.625
Total 100

Oil and natural gas are currently produced from seven fields: Badak, Nilam, Mutiara, Semberah, Pamaguan, Lampake and Beras. Most of the natural gas is delivered to the P.T. Badak NGL plant at Bontang where LNG is produced and shipped to buyers in Japan, Korea, and Taiwan. Smaller volumes of gas are supplied to fertilizer and methanol plants at the Kaltim Industrial Estate.

 


The Technology

 

VICO Indonesia, 2008