Pertamina may not participate in oil and gas block tender

The government will begin the tender process for 28 oil and gas blocks on Thursday, but the state oil and gas company PT Pertamina may not take part in the tender process due to lack of funds for exploration and development of the blocks, the Investor Daily Indonesia newspaper reported in its Wednesday edition.

"At present, Pertamina will optimalize its activities on exploration and the development of its own blocks. That's why, Pertamina will not participate in the tender," Pertamina 's deputy director for upstream operations Kun Kurnaili told the Investor Daily on Tuesday in Jakarta.

When asked about the possibility of Pertamina forming partnership with other companies, he said it is possible, although there is a concern that it may later become a burden for the company.(*)