Pertamina cancels cooperation agreement with Equador

State oil and gas firm PT Pertamina cancels cooperation with Equador's state owned company Petroequador in exploiting oil and gas wells in the country, Pertamina?s upstream unit Pertamina Hulu Energy (PHE) said on Thursday.

?The cooperation has been canceled because joint study, which was conducted last year, did not have encouraging results,? PHE?s acting president director Dwi Martono said.

In November 2007, Pertamina and Petroequador signed a so-called "implementation agreement" to explore and develop three oil and gas blocks in Equador. (bernard)