Pertamina cancels Vietnam block acquisition plan
Wednesday, March 10 2010 - 02:21 AM WIB
PT Pertamina Hulu Energi, an upstream arm of state oil, gas company PT Pertamina (Persero) said it has decided to cancel acquisition of interest in Hanoi Through shallow water exploration block in Vietnam.
International Venture Director Dwi Martono told Petromindo.Com on Tuesday that acquisition of 40 percent interest in the block from Quad Energy was canceled as terms and conditions asked by the latter were considered unattractive.
He did not give further deail.(bernard)