August 16, 2004 – Hong Kong Legal news, law news, law firm news & …

August 16, 2004 – Hong Kong Legal news, law news, law firm news & research at LAWFUEL International law firm Jones Day has recently advised the Indonesian Corridor PSC contractors, led by ConocoPhillips (Grissik) Limited (a wholly owned subsidiary of ConocoPhillips) and Talisman (Corridor) Ltd (a wholly owned subsidiary of Talisman Energy Inc) on the sale of gas to PT. Perusahaan Gas Negara (Persero) Tbk (PGN), the majority state-owned Indonesian gas transmission and distribution company.

The gas sales agreement, which was signed at a ceremony on 9 August, calls for the supply of 2.3 trillion cubic feet of gas over a 17 year period commencing in the first quarter of 2007. Gas will be supplied from the Suban phase II development in the Corridor production sharing contract in South Sumatra and will be delivered to PGN at the Corridor plant gate before being transported though a 606km new-build high-pressure pipeline and associated distribution infrastructure to industrial users and power generators in West Java.

The Jones Day team consisted of Peter Roberts, Russell Wilkinson and Alex Cull, all of whom are based in the firm’s Hong Kong office.

Commenting on Jones Day’s role in the project, Peter Roberts said “We are pleased to be associated with this gas sale by the Corridor PSC contractors, which is one of the largest Indonesian gas sales on record. Our specialist oil and gas team is uniquely placed to assist companies at every stage of oil and gas project development and commercialization throughout the region, and we are happy to have been able to share the benefit of our practice with ConocoPhillips and Talisman.”

Notes to Editors:

ConocoPhillips is an international, integrated energy company, with interests around the world, including a large operating presence in Indonesia. ConocoPhillips is the third largest integrated U.S. oil and gas company, is seventh in the Fortune 500 list, has the eighth largest total of proved reserves and is the fourth largest refiner in the world.

Talisman Energy Inc. is a large, independent oil and gas producer with operations in Canada and, through its subsidiaries, the North Sea, Indonesia, Malaysia, Vietnam, Algeria and the United States. Talisman’s subsidiaries also conduct business in Trinidad, Colombia and Qatar.

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