East Kalimantan wants to acquire interest in oil, gas blocks
Wednesday, February 28 2001 - 04:30 AM WIB
The East Kalimantan administration wants to acquire interest in oil and gas blocks managed by Pertamina's production sharing contractors (PSCs) once their contract has expired, according to the local Jaya Post daily. Pertamina is the state-owned oil and gas company.
The paper quoted provincial secretary Sjafran as saying on Tuesday that the province would form a special company, which would have 10-25 percent shares in the oil and gas blocks in a new venture with Pertamina.
He said that East Kalimantan was following the steps of the Riau Province administration, which had been given by the central government a 10 percent stake in a new venture with Pertamina to manage the Coastal Plain Pekanbaru (CPP) oil and gas block after Caltex Pacific Indonesia's contract expires in August.
"I Riau can do it, why don't we ? I expect the East Kalimantan people to support this plan," he said.
He added that the East Kalimantan administration might invite third parties which have technical skill and financial resources to join in.
He also said that the new plan would be included in the deliberation process of the country's new oil and gas bill. (*)