Pertamina claims to secure govt?s approval to operate E. Java block
Wednesday, February 17 2010 - 09:10 AM WIB
State oil and gas company PT Pertamina (Persero) claimed that the government has agreed to its proposal to take operatorship of West Madura block offshore East Java from current operator South Korean firm Kodeco Energy when the contract would expire in 2011.
President Director Karen Agustiawan on Thursday did not say if the company also wanted to take over interest of its partners in the block.
Currently Pertamina has 50 percent interest in the block with Kodeco and Chinese firm CNOOC Ltd each holding 25 percent.
In November 2009, Karen said that Pertamina wanted to increase interest in the block by at least 10 percent. Kodeco is also reportedly known to have submitted a formal request to extend the block?s contract
However, Director General of Oil and Gas Evita Legowo said that the government has yet issued any decision regarding West Madura block extension. (bernard)