Pertamina BoC studying plan to acquire additional interest in Jabung block

Board of commissioners of state oil and gas firm Pertamina is still studying the company management?s request to acquire part of Amerada Hess? 30-percent working interest in Jabung oil block onshore Jambi, a Pertamina official told Petromindo.Com Monday.

?We are still processing Pertamina?s request,? said Maizar Rahman, secretary of Pertamina?s board of commissioners. Company president director Baihaki Hakim had sent a letter, dated May 17, to the board and asked it to approve its acquisition plan, Maizar said.

Maizar said that the board would surely approve any plans of Pertamina if they were profitable to the company.

He said further that the board would seriously deliberate the funding of the Jabung block acquisition plan.

Pertamina?s acting upstream director Eteng A. Salam said earlier it had planned to buy around five percent of the 30-percent stake in Jabung block, which had been offered by production sharing contractor Amerada Hess. Pertamina currently holds a 10-percent working interest in the block.

In April, Amerada announced the sale of its 30-percent working interest in Jabung block to a consortium whose members are Malaysia?s Petronas and PetroChina for US$164 million. The two companies already have a 30-percent interest each in the block. (godang)