Pertamina eyeing Papua offshore block
Friday, March 5 2010 - 03:11 AM WIB
Pertamina?s Vice President for Upstream Development Slamet Riyadi told Petromindo.Com on Thursday that the company is conducting joint study on Semai IV exploration block.
The block has been offered in previous exploration tender round by the government but drew no bidder.
Meanwhile, Pertamina Hulu Energi (PHE) Spokesperson Ali Mundakir told Petromindo.Com on Friday that PHE would team up with Thai firm PPTEP and Murphy Oil to conduct the joint study on Semai IV. PHE is an upstream arm of Pertamina that carries out activities in offshore and overseas blocks.
Under present regulation, the consortium would have first right to acquire the block when the block is offered again for tender.
Meanwhile, Slamet also said that Pertamina is finalizing the plan to farm-in the Adjacent Semai II block. Slamet said Pertamina will acquire 15 percent stake in the block and the deal is expected to be sealed this month.
The Semai II block was awarded in November 2008, with US energy company Murphy Oil Corp operating the block with 33.33 percent interest. Thai firm PTTEP holds 33.33 percent, while INPEX Corporation of Japan controls the rest of interest. (godang)