Pertamina eyes stake in ExxonMobil?s field in Iraq
Wednesday, June 27 2012 - 09:56 AM WIB
By Bernard Loebs
State owned oil and gas firm PT Pertamina is eying a 10 percent stake owned by American energy giant ExxonMobil in West Qurna-1 oil field in Iraq.
Pertamina?s Upstream Director said Pertamina had to prepare a ?huge? amount of investment for the acquisition, but he refused to provide details.
?West Qurna is a huge field with an output of 1.8 million barrels per day (bpd). Ten percent of it t is equal to 180,000 bpd. That?s a huge amount of production,? Muhammad Husen, Upstream Director at Pertamina, said on Wednesday.
Editing by Johannes Simbolon