Pertamina eyes stake in 20 new oil and gas blocks

State-owned oil and gas mining company PT Pertamina is interested to have participating interest in all oil and gas blocks that would be offered by the government in auction this month. 

 

Company deputy director for upstream business Tri Siwindono disclosed that Pertamina is ready for taking over 15 percent of the participating interest in the 20 offered blocks. The government recently said it would give a privilege to Pertamina to acquire up to 15 percent stake in all oil and gas blocks in the country before contractors sign contracts for the block or during exploration. 

 

Tri said Pertamina would make a decision whether to buy the stake in the 20 blocks after making geological, geophysical and risk management studies as well as economic analysis. 

 

"If the 20 oil and gas blocks have a proper economic value, we would enter into whole blocks,” he said in Jakarta recently.

 

However, he said, the intention would depend on the government policy as the government has yet to issue a regulation giving  Pertamina the farm-in privilege. (*)