4 companies interested in Premier's stake in Aceh
Tuesday, April 8 2014 - 08:29 AM WIB
Four companies, including state owned oil and gas firm PT Pertamina and state owned gas distributor PT Perusahaan Gas Negara, have submitted letters expressing interest to acquire a stake in Block A gas block onshore Aceh, that is being offered for sale by UK independent oil and gas firm Premier Oil Plc, according to an industrial source.
The source, who requested anonymity, told Petromindo.com the two other companies are Chinese firm CNOOC and Australian firm Santos.
He said Premier Oil just opened its data room and will allow the four companies to take a look at the firm's data on the block.
Meanwhile, the Acting Chairman of upstream authority SKK Migas J. Widjonarko said to Petromindo.com that until now Medco as the operator in Block A has yet to report the progress of Premier?s interest transfer to SKK Migas.
"Under the existing rule, a transfer of interest should be reported to SKK Migas in order to get approval from the minister of energy and mineral resources,? he said.
Premier recently announced its intention to sell its 41.67 percent stake in the block. The block is operated by PT Medco Energi Internasional Tbk, which also holds a 41.67 percent interest.
Medco has signed a deal to supply 110 mmscfd of gas per day to state owned electricity firm PT PLN (Persero) and is in the process to sell another 55 mmscfd of gas to Aceh fertilizer maker PT Pupuk Iskandar Muda (PIM) starting 2016.
Editing by Johannes Simbolon