Pertamina completes acquisition of Exxonmobil assets in Aceh

State-owned oil and gas firm PT Pertamina has completed the acquisition of ExxonMobil Indonesia?s assets in Aceh including North Sumatra Offshore (NSO) and Block B, Koran Tempo reported on Friday.

The paper said that as of Thursday, Pertamina?s subsidiary PT Pertamina Hulu Energi (PHE) has become the 100 percent owner and operator of the two blocks.

?As of today, we become the full operator of Block B and NSO. The entire negotiation process has been completed and will soon enter transition period,? said Pertamina Vice President for Corporate Communications Wianda Pusponegoro.

Pertamina also acquires ExxonMobil Indonesia?s 30 percent stake in PT Arun, an entity that operates the Arun LNG plant facilities in Aceh, increasing the company?s shares in Arun to 85 percent, with the remainder held by a consortium of Japan-Indonesia LNG Company (JILCO).

?Our subsidiary PT Perta Arun Gas will become the operator of Arun,? Wianda said. (*)