Pertamina in gas development deals with partners
Friday, August 19 2011 - 05:02 AM WIB
State oil, gas company PT Pertamina (Persero) on Friday, through its unit Pertamina EP Cepu (PEPC), signed a deal with the Indonesian unit of US oil and gas giant Exxon Mobil Corp. to unitize and operate gas fields in Central-East Java.
Under the HoA, Pertamina EP Cepu (PEPC) will operate the Jambaran gas field which is located within the giant Cepu block (90% interest is equally shared by PPEC and ExxonMobil) and Tiung Biru gas field, which is operated by PEPC.
Pertamina EP CEO Syamsu Alam said that the Jambaran-Tiung Biru gas field will start production in 2013 with production rate of 150 MMCFD. Gas from the field will likely be supplied to state electricity firm PT PLN (Persero).
Pertamina also on Friday signed Principles of Agreement (POA) on East Natuna giant gas block development with its partners Total SA, Exxon Mobil Corp. and Petronas. The content of the PoA is not yet disclosed. (godang/giok)