Pertamina no longer interested in Papua exploration block
Monday, September 14 2009 - 01:12 AM WIB
State oil and gas company PT Pertamina is no longer pursuing opportunity to farm in Semai V block offshore West Papua which it lost to US oil, gas firm Hess Corporation in a bidding round late last year.
?Currently Pertamina is not interested to farm in the block,? VP Business Development Gunung Sardjono said.
Pertamina, which teamed up with Anglo-Dutch giant Royal Dutch/Shell, lost to Hess Corp. in the bidding despite a higher investment proposal than the winner's. The block is believed to contain significant resources of hydrocarbon.
Hess currently has 100 percent interest in the block.
The government has offered to facilitate Pertamina to farm in the block. (godang)