PENYERTAAN SAHAM INVESTMENTS IN SHARES OF STOCKS

The original consolidated financial statements included herein are in the Indonesian language. PT PERUSAHAAN GAS NEGARA PERSERO TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 Desember 2015 dan Tahun Yang Berakhir Pada Tanggal Tersebut Disajikan dalam Dolar AS, Kecuali Dinyatakan Lain PT PERUSAHAAN GAS NEGARA PERSERO TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2015 and The Year Then Ended Expressed in US Dollar, Unless Otherwise Stated 107

15. ASET EKSPLORASI DAN EVALUASI DAN PROPERTI MINYAK DAN GAS lanjutan

15. EXPLORATION AND

EVALUATION ASSETS AND OIL AND GAS PROPERTIES continued a. Aset Eksplorasi dan Evaluasi lanjutan a. Exploration and Evaluation Assets continued Pada tanggal 14 Mei 2014, SEI, melalui PT Saka Energi Bangkanai Barat ’’SEBB‘’ menandatangani perjanjian pengalihan 30 kepemilikan participating interest di West Bangkanai PSC dari Salamander Energy West Bangkanai Limited ’’Salamander‘’ senilai US480.100. On May 14, 2014, SEI, through PT Saka Energi Bangkanai Barat ’’SEBB‘’, signed farm-out agreement of 30 participating interest in West Bangkanai PSC from Salamander Energy West Bangkanai Limited ’’Salamander‘’ amounted to US480,100. Pengalihan participating interest di West Bangkanai mendapat persetujuan dari SKKMIGAS pada tanggal 16 Desember 2014. SEBB membayarkan harga pembelian pada tanggal 2 Januari 2015. The transfer of participating interest at West Bangkanai was approved by SKKMIGAS on December 16, 2014. SEBB paid the purchase price on January 2, 2015. b. Properti Minyak dan Gas b. Oil and Gas Properties 31 DesemberDecember 31, 2014 Disajikan Kembali Catatan 4 2015 As Restated Note 4 Sumur dan perlengkapan Wells and related equipment terkait dan fasilitasnya and facilities Harga perolehan At cost Saldo awal 1.555.984.145 439.984.339 Beginning balances Penambahan tahun berjalan 439.163.122 152.165.737 Addition during the year Penambahan karena akuisisi 70.890.494 963.834.069 Additions due to acquisition Saldo akhir 2.066.037.761 1.555.984.145 Ending balances Akumulasi penyusutan, Accumulated depreciation, deplesi dan amortisasi 295.513.845 102.853.176 depletion and amortization Cadangan kerugian penurunan nilai 134.191.940 36.542.643 Allowance for impairment losses Total 1.636.331.976 1.416.588.326 Total The original consolidated financial statements included herein are in the Indonesian language. PT PERUSAHAAN GAS NEGARA PERSERO TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 Desember 2015 dan Tahun Yang Berakhir Pada Tanggal Tersebut Disajikan dalam Dolar AS, Kecuali Dinyatakan Lain PT PERUSAHAAN GAS NEGARA PERSERO TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2015 and The Year Then Ended Expressed in US Dollar, Unless Otherwise Stated 108

15. ASET EKSPLORASI DAN EVALUASI DAN PROPERTI MINYAK DAN GAS lanjutan

15. EXPLORATION AND

EVALUATION ASSETS AND OIL AND GAS PROPERTIES continued b. Properti Minyak dan Gas lanjutan b. Oil and Gas Properties continued Pergerakan properti minyak dan gas adalah sebagai berikut: The movements in oil and gas properties as follow: 31 Desember 2015 December 31, 2015 ______________ Saldo awal Saldo akhir Blok Lokasi Beginning Penambahan Akuisisi Pengurangan 1 Ending Blocks Location balance Addition Acquisition Deduction 1 balance Ketapang Jawa TimurEast Java 191.500.000 34.898.178 - 10.010.462 216.387.716 Bangkanai Kalimantan Tengah 78.584.352 7.355.935 - - 85.940.287 Central Kalimantan Pangkah Jawa TimurEast Java 840.452.971 65.710.431 - 238.860.148 667.303.254 Fasken Texas 163.500.000 72.235.358 - 18.982.029 216.753.329 Muriah Jawa TengahEast Java 101.051.000 11.463.596 - 3.149.460 109.365.136 South East Sumatera Sumatera 41.500.003 5.716.825 - 19.307.867 27.908.961 Muara Bakau Kalimantan - 241.782.799 70.890.494 - 312.673.293 1.416.588.326 439.163.122 70.890.494 290.309.966 1.636.331.976 Catatan 1: Di dalam akumulasi penyusutan,deplesi dan amortisasi tahun 2015 terdapat pengurangan dismantle cost sebesar US42.301.422 karena perubahan revisi estimasi arus kasIn Accumulated depreciation,depletion and amortization included the reduction of dismantle cost amounted to US42,301,422 due to the change in estimation upon future cash flow. 31 Desember 2014 December 31, 2014 Saldo awal Saldo akhir Blok Lokasi Beginning Penambahan Akuisisi Pengurangan Ending Blocks Location balance Addition Acquisition Deduction balance Ketapang Jawa TimurEast Java 127.561.898 76.619.124 - 12.681.022 191.500.000 Bangkanai Kalimantan Tengah 55.579.315 23.005.037 - - 78.584.352 Central Kalimantan Pangkah 1 Jawa TimurEast Java 226.001.008 6.541.547 678.002.805 70.092.389 840.452.971 Fasken Texas - 42.858.661 134.878.816 14.237.477 163.500.000 Muriah 2 Jawa TengahEast Java - - 101.051.000 - 101.051.000 South East Sumatera Sumatera - 3.141.368 49.901.448 11.542.813 41.500.003 409.142.221 152.165.737 963.834.069 108.553.701 1.416.588.326 1 Lihat Catatan 16.ii dan 16.iiiSee Note 16.ii and 16.iii 2 Lihat Catatan 16.ivSee Note 16.iv Informasi mengenai akuisisi hak kepemilikian: Information pertaining to the acquisition of participating interest: Hak Kepemilikan Tahun akuisisi Blok Participating Pemilik lama Nilai Pembelian Acquisition year Block Interest Former owner Purchase Price April 2015 Muara Bakau 11,67 GDF Suez Exploration Ind. BV US 70.890.494 Mei 2014 Fasken 36,00 Swift Energy Operating LLC US 134.878.816 Agustus 2014 South East Sumatra 8,91 KNOC Sumatera Limited US 49.901.448 Pada tanggal 31 Desember 2015, seluruh sumur, perlengkapan dan fasilitas terkait diasuransikan dengan nilai pertanggungan sebesar US1.025.325.014. As of December 31, 2015, all wells and related equipment and facilities were insured amounted to US1,025,325,014. The original consolidated financial statements included herein are in the Indonesian language. PT PERUSAHAAN GAS NEGARA PERSERO TBK DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN 31 Desember 2015 dan Tahun Yang Berakhir Pada Tanggal Tersebut Disajikan dalam Dolar AS, Kecuali Dinyatakan Lain PT PERUSAHAAN GAS NEGARA PERSERO TBK AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2015 and The Year Then Ended Expressed in US Dollar, Unless Otherwise Stated 109

15. ASET EKSPLORASI DAN EVALUASI DAN PROPERTI MINYAK DAN GAS lanjutan

15. EXPLORATION AND EVALUATION ASSETS AND OIL AND GAS PROPERTIES continued

b. Properti Minyak dan Gas lanjutan

b. Oil and Gas Properties continued Uji penurunan nilai atas properti minyak

dan gas Impairment test on oil and gas properties Pengujian penurunan nilai atas properti minyak dan gas dilakukan ketika terdapat suatu indikasi bahwa nilai tercatat properti minyak dan gas tersebut mengalami penurunan. Dalam hal ini, manajemen Kelompok usaha menentukan hak kepemilikan pada masing-masing blok sebagai satu UPK. Impairment test on oil and gas properties is performed when circumstances indicate the CGU’s carrying value may be impaired. In this matter, the management of the Group determined the participating interests in the respective blocks as a CGU. Menimbang kondisi harga spot minyak dan gas pada saat penilaian, manajemen Kelompok Usaha melakukan pengujian penurunan nilai atas UPK yang terdampak, yaitu UPK yang hasil produksinya dijual dengan harga spot. Considering the condition of the spot price of oil and gas at the assessment, the management of the Group performed impairment testing on the affected CGUs, which the products are sold under spot price. Dalam menguji apakah penurunan nilai dibutuhkan, nilai tercatat setiap UPK termasuk alokasi goodwill dibandingkan dengan jumlah terpulihkan masing-masing UPK tersebut. Jumlah terpulihkan ditentukan berdasarkan nilai pakai yang dihitung berdasarkan proyeksi arus kas yang didasarkan pada produksi dan rencana pengembangan yang telah disetujui oleh manajemen yang mencakup estimasi periode kontrak dan investasi masa depan untuk peningkatan output. In assessing whether impairment is required the carrying value of the respective CGUs including the allocated goodwill are compared with their respective recoverable amounts. The recoverable amount has been determined based on a value-in-use calculation using cash flow projections based on production and development forecast approved by the management covering estimated period of contract and future investment to increase output. Jumlah terpulihkan dan nilai tercatat aset minyak dan gas bumi termasuk alokasi goodwill pada tanggal 31 Desember 2015 sebagai berikut: The recoverable amount and the carrying amount of oil and gas properties including allocated goodwill as of December 31, 2015 are as follows: Penurunan nilai Penurunan nilai properti minyak Jumlah Nilai goodwill dan gas terpulihkan tercatat 1 Impairment Impairment loss Recoverable Carrying loss on on oil and gas amount amount 1 goodwill properties BlokBlock South East Sumatera 27.908.961 36.461.016 - 8.552.055 BlokBlock Pangkah SIPL 433.747.115 515.771.007 39.341.882 42.682.010 SIPBV 166.825.814 207.632.320 - 40.806.506 SPLLC 66.730.325 80.232.997 7.893.946 5.608.726 695.212.215 840.097.340 47.235.828 97.649.297 Catatan 1: Nilai tercatat blok Pangkah termasuk goodwill lihat Catatan 16 Note 1: Carrying amount for Pangkah Block includes goodwill see Note 16