1
ADDENDUM TO
BADAK IV LNG SALES CONTRACT
SUPPLY AGREEMENT
THIS ADDENDUM, made and entered into in Jakarta the 31st day of
January, 1994, but effective as of the 23rd day of October, 1990, by and
between PERUSAHAAN PERTAMBANGAN MINYAK DAN GAS BUMI NEGARA ("PERTAMINA"), on
the one hand, and VIRGINIA INDONESIA COMPANY ("VICO"), LASMO SANGA SANGA
LIMITED, OPICOIL HOUSTON, INC., UNION TEXAS EAST KALIMANTAN LIMITED, UNIVERSE
GAS & OIL COMPANY, INC., AND VIRGINIA INTERNATIONAL COMPANY (herein referred to
collectively as "Contractors" and individually as "Contractor"), on the other
hand,
WITNESSETH:
WHEREAS, PERTAMINA and Contractors are parties to the Badak IV LNG
Sales Contract Supply Agreement, made and entered into the 12th day of August,
1991, but effective as of the 23rd day of October, 1990 (the "Supply
Agreement") (unless otherwise stated, any terms defined in the Supply Agreement
shall have the same meanings when used herein); and
WHEREAS, under the Supply Agreement PERTAMINA and Contractors have
committed to supply and deliver from proved recoverable reserves of natural gas
in specific fields within the VICO Contract Area sufficient natural gas (and
LNG resulting from the liquefaction thereof) to meet a portion of the Badak IV
Base Net Gas Requirement and the Badak IV Additional Net Gas Requirement over
the term of the Supply Agreement; and
WHEREAS, the initial figures for the VICO Contract Gas, the Other
Contract Gas and the Producers' Percentage set forth in the Supply Agreement
were established by PERTAMINA to be used only on a provisional basis until such
time as DeGolyer and MacNaughton certified such reserves, following which the
identity of the participating fields was to be documented and the quantities in
each field which comprise the VICO Contract Gas and the Other Contract Gas and
the Producers' Percentage were to be adjusted and documented in a supplemental
memorandum (the "Supplemental Memorandum") in accordance with the Memorandum of
Understanding Re: Supply Agreements and Package IV Sales dated August 12, 1991;
and
WHEREAS, upon completion of such adjustments, but not later than the
date of loading the initial cargo of LNG for delivery under the Badak IV LNG
Sales Contract, PERTAMINA and Contractors agreed to execute an addendum to the
Supply Agreement confirming the VICO participating fields, the quantities in
each field which comprise the VICO Contract Gas and the Other Contract Gas, and
the Producers' Percentage; and
WHEREAS, such adjustments have been completed and agreed to by
PERTAMINA, Contractors and the production sharing contractors in the Other
Contract Areas and the Supplemental Memorandum has been entered into of even
date herewith.
2
NOW, THEREFORE, the parties agree as follows:
1. The Producers' Percentage is 27.2064%.
2. The VICO Contract Gas is 0.650570 t.s.c.f.
3. The VICO participating fields and the quantities in each
field comprising the VICO Contract Gas are as follows:
Participating Field Quantity of Gas (t.s.c.f.)
------------------- --------------------------
Badak 0.159137
Nilam 0.257704
Mutiara 0.092838
Semberah 0.136132
Pamaguan 0.004759
4. Subject to the foregoing, the undersigned parties hereby
ratify and confirm the Supply Agreement.
5. By separate addenda similar hereto and compatible herewith,
executed and delivered at the same time as this Addendum,
PERTAMINA and the production sharing contractors in the Other
Contract Areas shall confirm the quantity of the Other
Contract Gas.
IN WITNESS WHEREOF, PERTAMINA and Contractors have caused their duly authorized
representatives to execute this Addendum as of the day and year first written
above.
PERUSAHAAN PERTAMBANGAN CONTRACTORS:
MINYAK DAN GAS BUMI
NEGARA (PERTAMINA) VIRGINIA INDONESIA COMPANY
By /s/ F. ABDA'OE By /s/ CHARLES REIMER
------------------------- -------------------------
LASMO SANGA SANGA LIMITED
By /s/ [ILLEGIBLE]
-------------------------
2
3
OPICOIL HOUSTON, INC.
By /s/ CHING YUNG CHUNG
-----------------------------
Executive Vice President
UNION TEXAS EAST KALIMANTAN
LIMITED
By /s/ A.W. PEABODY, JR.
-----------------------------
UNIVERSE GAS & OIL COMPANY, INC.
By /s/ HIDESUKE NAMJO
-----------------------------
General Manager
VIRGINIA INTERNATIONAL COMPANY
By /s/ [ILLEGIBLE]
-----------------------------
3