Lukoil in talks with Pertamina to explore Indonesian offshore projects

OAO Lukoil, the Russian company with the most assets overseas, has made progress in discussions on oil projects with Indonesian state oil company PT Pertamina, according to Russia ?s Economy Ministry.

Indonesia is interested in potential Lukoil participation in exploration and production in the country?s offshore West Papua area, the Russian ministry said in a trade summary document posted on its website late yesterday.

Lukoil and Pertamina agreed to form a venture to seek exploration rights in the Southeast Asian country in 2007, Ari Soemarno, then president of Pertamina, said at the time. Lukoil is currently exploring offshore West Africa and producing oil from the Russian sector of the Caspian Sea.

But Pertamina VP for corporate communication Muhammad Harun said on Wednesday that there is no cooperation between Pertamina and OAO Lukoil. (Godang)