Natuna gas price renegotiation with Petronas near completion: BPMIGAS
Wednesday, June 29 2011 - 10:21 AM WIB
Indonesia is close to complete gas price renegotiation from ConocoPhillips-operated South Natuna Sea Block B with Malaysian oil, gas firm Petronas, an official with upstream oil, gas authority BPMIGAS said as quoted by Bisnis.com.
Chairman R. Priyono said on Tuesday that Petronas has been willing to pay US$5.5 per MMBTU from current price of $2.7 per MMBTU. Priyono, however, said Indonesia still wanted to push price to above $6 per MMBTU.
He expected negotiation to be concluded soon.
ConocoPhillips supplies gas from Natuna Sea Block B to Petronas?s Duyong gas platform in Malaysia since 2002 under 20-year contract with volume of around 250 MMCFD. (*)