Caltex says interested in participation in CPP block

American oil and gas company PT Caltex Pacific Indonesia said on Thursday it was interested to jointly develop the Coastal Plains Pekanbaru (CPP) block in Riau together with state oil and gas company Pertamina and the Riau provincial administration.

Caltex's president Humayunbosha said Caltex did not care much about the number of shares it would acquire in the consortium as long as the company could still gain profits from its participation in the consortium.

"(Having) majority (shares in the consortium) is not the only factor. Commerciality is more important," Humayunbosha told reporters following the signing ceremony of new oil and gas contracts at the ministry of energy and mineral resources.

The production-sharing contract (CPP) on the block is being held by Caltex but the contract is due in September this year.

The government has approved a consortium to be established by Pertamina and Riau to take over the block, but thus far both parties were still at odds over the composition of shares in the consortium. (Alex/Godang)