Pertamina, Kodeco extend gas delivery deal with PGN

IDX-listed state gas distribution firm PT PGN (Persero) has won approval from upstream oil and gas regulator BPMIGAS for an extension of existing gas distribution contracts with state-owned gas company Pertamina and private-owned Kodeco Energy.

?We have received the contract extension from BPMIGAS last week," Pertamina president director Karen Agustiawan told Petromindo.com on Monday.

PGN?s sought to extend for another five-year period its existing contract with Pertamina EP to distribute gas from the latter?s gas fields in West Java. The existing contract will expire in March 2011.

PGN was also seeking to extend its existing contract with Kodeco Energy, which operates gas fields offshore East Java. The current contract will expire in December 2011, and PGN wanted to extend the contract by another 10 years. (godang)