Pertamina offers a lower price for Repsol YPF Indonesian assets
Thursday, September 27 2001 - 01:58 AM WIB
The state-owned oil and gas company Pertamina has offered a price of between US$300-$400 million for the Indonesian assets of Repsol YPF, according to company director of development Bardi Muchraman.
The price proposed by Pertamina was much lower than the $700 million demanded by Repsol.
Bardi said that Pertamina would continue negotiating with Repsol. A team of Pertamina is currently in Spain to negotiate with Repsol.
A source told Petromindo.com that the team was expected to return home next month.(Godang)