May 10, 2009

Hashim Djojohadikusumo, 150 richest in Indonesia

Hashim Djojohadikusumo is a very rich Indonesian (150 richest in Indonesia- June 2008 GlobeAsia magazine) is the son of the late leading economist Soemitro Djojohadikusumo and a brother of former commander of the Army's elite Kopassus special forces Probowo Subiyanto

Hashim Djojohadikusumo is the chairman and president of Nations Energy Ltd ( Energy Co Ltd, was founded in 1996 as a private Canadian company to pursue international oil and gas exploration and production projects.

The Karazhanbas field was discovered in the 1970s and was in decline until Nations Energy acquired it in 1997 and drilled new wells, optimized, reactivated, or recompleted existing wells and added new production facilities.

In 2003, Nations Energy started additional oil field activity in the western coast of the Caspian Sea in Azerbaijan. The fields in Azerbaijan offer a similar production growth opportunity as Kazakhstan. Production in 2005 averaged 5,150 barrels per day. Nations Energy gained the right for exploration and development of the Mishovdag and Kelameddin oil fields and the block including the Padar prospect in the Azerbaijan Republic. Nations Energy believes that Azerbaijani projects have a great potential and the company shall do its best to ensure their further development. Karasu Operating Company (KAOC) is an Operating Company dealing with exploration and development of the Mishovdag and Kelameddin oil fields onshore Azerbaijan. Nations Energy proven reserves in Khazakhstan and Azerbaijan exceeds 400 million barrels.

Continental Energy Corporation has announced that it and GeoPetro Resources Company have sold their interest in Continental - GeoPetro (Yapen) Ltd., holder of an interest in the Yapen Production Sharing Contract in West Papua, Indonesia, to Nations Energy Company Ltd. of Calgary, Alberta, Canada, for US$ 6,000,000 in cash.

(Bloomberg) there were reports (subsequently denied) that China National Overseas Oil Company (CNOOC) was about to buy Nations Energy Co Ltd at US$2 billion.

Hashim Djojohadikusumo is currently rebuilding once high flying Tirtamas Comexindo, a holding company which expanded aggressively during the 1980s and 1990s but was badly hit by the rgional financial crisis. Hashim now has interests in PT Kiani Kertas, a pulp and paper firm; Tuban petrochemical project; and in Nation Petrolium, an oil and gas firm with assets in Papua.


GlobeAsia magazine, June 2008

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