Korea National Oil seeking assets swap with Pertamina

Korea National Oil Company (KNOC) is seeking to cooperate with state oil and gas company PT Pertamina through oil and gas blocks asset swap scheme, a company official said.

?KNOC is trying to approach Pertamina to offer oil and gas blocks asset swap. We have assets in eastern Europe. We are interested to cooperate with Indonesian company, in particular Pertamina,? a senior official of KNOC, who declined to disclose his name, told Petromindo.com.

KNOC said in the past it had oil and gas blocks in Indonesia, however, the contracts to manage those assets have expired.

Director for Upstream of Pertamina, M. Husein said there are no concrete talks yet with KNOC. However, the company is ready to cooperate with any partners, including KNOC. ?We are ready to cooperate with anyone,? said Husein. (godang)