Penambahan 30 participating interest PT Addition of PT PHE West Madura’s 30

PERTAMINA | Laporan Tahunan - Annual Report 2011 368 PT PERTAMINA PERSERO DAN ENTITAS ANAKAND SUBSIDIARIES Lampiran 582 Schedule CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2011 DAN 2010 DAN 1 JANUARI 2010 Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 201 0 AND 1 JANUARY 2010 Expressed in millions of Rupiah, unless otherwise stated

5. PENAMBAHAN PARTICIPATING INTEREST DI

BLOK WEST MADURA OFFSHORE DAN AKUISISI INPEX JAWA LIMITED, INPEX SUMATERA LIMITED 5. ADDITION OF PARTICIPATING INTEREST AT WEST MADURA OFFSHORE BLOCK AND ACQUISITION OF INPEX JAWA LIMITED, INPEX SUMATERA LIMITED

a. Penambahan 30 participating interest PT

PHE West Madura di Blok West Madura Offshore

a. Addition of PT PHE West Madura’s 30

participating interest in West Madura Offshore Block PT Pertamina Hulu Energi West Madura Offshore “PHE West Madura” mempunyai 50 participating interest di KKS West Madura Offshore yang berakhir pada tanggal 6 Mei 2011. Sisa masing-masing 25 participating interest dimiliki oleh Kodeco Energy Limited “Kodeco” dan China Natural Offshore Oil Corporation “CNOOC”. PT Pertamina Hulu Energi West Madura Offshore “PHE West Madura” owned 50 participating interest in West Madura Offshore PSC which expired on 6 May 2011. The remaining of each 25 participating interests were held by Kodeco Energy Limited “Kodeco” and China Natural Offshore Oil Cooperation “CNOOC”. Setelah KKS tersebut kadaluarsa, Pemerintah memperpanjang dan memberikan KKS West Madura Offshore kepada PHE West Madura dan Kodeco. After expiration of the PSC, the Government extended and assigned the West Madura Offshore PSC to PHE West Madura and Kodeco. PHE West Madura dan Kodeco masing-masing memiliki 80 dan 20 participating interest. KKS tersebut efektif pada tanggal 7 Mei 2011 dan akan kadaluarsa pada tanggal 6 Mei 2031. PHE West Madura dan Kodeco juga bekerja sama melalui perjanjian operasi bersama untuk melakukan aktivitas eksplorasi dan produksi minyak dan gas bumi, dan berlanjut hingga berakhirnya KKS. Semua aset dan kewajiban di ventura bersama yang lama dipindahkan ke ventura bersama yang baru. Aset dan kewajiban yang dikontribusikan untuk pembentukan ventura bersama dicatat dengan menggunakan nilai buku sebelumnya menurut kebijakan akuntansi PHE dan Entitas Anak . PHE West Madura and Kodeco have 80 and 20 participating interests, respectively. The PSC has been effective since 7 May 2011 and will expire on 6 May 2031. PHE West Madura and Kodeco have also entered into a joint operating agreement to undertake the exploration and production oil and gas activities, and continuing until the termination of the PSC. All assets and liabilities in the old joint venture were transferred to the new joint venture. These assets and liabilities which contributed to the formation of a new joint venture have been recorded at the previous carrying amount in accordance with the PHE and Subsidiaries’ accounting policy. Kenaikan aset bersih PHE West Madura termasuk hak dan kewajiban di ventura bersama, sesuai kenaikan participating interestnya, telah dicatat di laporan keuangan konsolidasian. Tetapi, penyelesaian aset bersih tersebut masih tergantung kepada klarifikasi antara pemerintah dan PHE West Madura. Manajemen berkeyakinan bahwa penyelesaian akhir tidak mempengaruhi laporan ke uangan konsolidasian ini secara signifikan. The increase of PHE West Madura’s net assets including right and obligation in the joint venture, which proportionally with the increase of its participating interest have been recorded in the consolidated financial statements. However, the settlement of net assets is still subject to clarification between the government and PHE West Madura. Management believes that the final settlement will not significantly impact these consolidated financial statements. PERTAMINA | Laporan Tahunan - Annual Report 2011 369 PT PERTAMINA PERSERO DAN ENTITAS ANAKAND SUBSIDIARIES Lampiran 583 Schedule CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 DESEMBER 2011 DAN 2010 DAN 1 JANUARI 2010 Dinyatakan dalam jutaan Rupiah, kecuali dinyatakan lain NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 201 0 AND 1 JANUARY 2010 Expressed in millions of Rupiah, unless otherwise stated

5. PENAMBAHAN PARTICIPATING INTEREST DI