Pertamina in talks to increase participation in Jambi block

State oil and gas company Pertamina is in talks with PetroChina to increase the former's equity participation in Jabung block in Jambi province, according to a Pertamina executive.

"We are now in talks to double our equity participation from 10 percent to 20 percent in the block, but we haven't agree on the price yet," said Iin Arifin takhyan, Pertamina's upstream director late Monday.

Jabung PSC is an oil and gas producing block with gas production expected to come on stream in the third quarter of 2003 with the initial gas sales of 65 million standard cubic feet per day (MMCFD), reaching the plateau sales of 150 mmcfd.The gas will be piped to Singapore starting 2003.

Currently crude production from Jabung PSC averages 23,000 BPD.

PetroChina, Amerada Hess and Petronas have equal working interest in Jabung block with PetroChina as operator. Pertamina holds the remaining 10 percent interest.(godang)