Pertamina acquires interest in newly awarded blocks

State oil and gas firm Pertamina will participate in two newly awarded deep-sea exploration blocks in Makassar Straits, according to Pertamina?s president director Baihaki Hakim.

?Pertamina is going to take 15 percent working interest in Donggala and Tanjung Aru exploration blocks, ? Baihaki told Petromindo.com on a sideline of a gathering.

Donggala block is operated by French giant TotalFinaElf together with Japan?s Inpex, while Tanjung Aru is operated by US oil, gas firm Amerada Hess and Malaysia?s Petroliam Nasional Berhad (Petronas).

10-year investment commitment is US$81.75 million for Tanjung Aru and US$60.5 million for Donggala.

TotalFinaElf E&P Indonesie spokesperson Ananda Idris said with Pertamina?s farm-in, TotalFinaElf and Inpex?s working interest in Donggala block would become 42.5 percent each.

Makassar Strait become the darling of oil, gas investors following the significant oil, gas findings by Unocal Corp. in West Seno. (alex)