Pertamina considering joint bidding with Kufpec and KNOC
Thursday, June 14 2012 - 03:24 AM WIB
State oil and gas company PT Pertamina is considering the possibility of conducting joint bidding with Kuwait?s state oil and gas firm Kufpec and Korea National Oil Company (KNOC) in open areas offered by the Indonesian government.
As part of the scheme, there will be opportunities for Pertamina to take part in managing assets of the two companies worldwide. It is a follow-up step to the memorandums of understanding signed by Pertamina President Director Karen Agustiawan and the two firms recently.
"Their interests are in the opportunities to invest in assets of Pertamina in Indonesia and in joint bidding open areas," PT Pertamina Business Development Vice President Andriansyah told Petromindo.com in Jakarta on Thursday.
He pointed out that Pertamina would try to take the opportunities of swap, joint acquisitions, or joint bidding with Kufpec and KNOC.
Recently, PT Pertamina has signed memorandums of understanding (MoU) with 3 oil and gas companies, namely KUFPEC of Kuwait, HESS of the U.S., and KNOC of South Korea on upstream business development.
?With Hess, we?ll pursue a cooperation on technology, particularly on enhanced oil recovery (EOR). Hess has been proven to be expert in the EOR technology,? said Karen.
She noted that Pertamina had identified 33 assets across the archipelago that would undergo the EOR implementation. ?We?ll do the EOR on our own in seven (of the 33) assets. The rest will be done in cooperation with companies that have already had experiences,? she added.
Editing by Benget Besalicto Tnb.