CNPC quits race to win Natuna D Alpha interest

Chinese oil, gas giant China National Petroleum Corporation (CNPC) has withdrawn from race to become partner of state oil and gas company PT Pertamina (Persero) to develop the giant Natuna D Alpha gas field offshore Natuna, a Pertamina senior official said on Wednesday.

Upstream Director Bagus Setiardja did not give detail, but said that with the Chinese giant quitting the race, seven companies are now competing to get their shares of interest in the block.

Bagus said the seven remaining firms are: Exxon Mobil Corp., Total SA, Chevron Corp., StatOil SA, Royal Dutch/Shell, Petronas and ENI SpA.

He also said that Pertamina has yet making any decision to pick partner for Natuna D Alpha.

Earlier CEO Karen Agustiawan said Pertamina is ready to farm-out 60 percent interest in the block and did not rule out possibility of selecting more than one partners.

A Petromindo.Com source said recently that Exxon Mobil and Petronas might be picked by Pertamina as partners in the block.

The government has handed over the block to Pertamina after the contract owned by American oil and gas giant Exxon Mobil Corp. expired. The block is believed to hold 47 trillion cubic feet of recoverable natural gas. (godang)