Pertamina eyeing stake at Ecuador giant oil block
Wednesday, August 9 2006 - 06:23 AM WIB
State oil and gas company PT. Pertamina is eyeing cooperation with Ecuadorian oil firm PetroEcuador to farm in an exploration block owned by the South American state oil firm, a company official said on Wednesday.
?We?re preparing a team to study the possibility to take part in Block 15 oil block,? Upstream Director Sukusen Soemarinda said.
Block 15, which is located in southwestern part of the country, was formerly operated by Occidental Petroleum, which was expelled from the country last May.
The block produced 100,000 BPD under Occidental operations and currently in declining mode since PetroEcuador took over. (godang)