Pertamina offers new exploration, production system

The state-owned oil and gas firm Pertamina is offering a new consortium mechanism to its potential partners interested in the exploration and production of the country's oil and gas reserves, according to Pertamina director for exploration and production Gatot K. Wiroyudho.

But Gatot said that Pertamina would still retain the current production sharing contract (PSC) system.

"We're considering the possibility of creating a synergy with investors in the oil and gas field through a consortium system," Gatot was quoted as saying by the Suara Karya daily on Tuesday.

He said that the new system was expected to help Pertamina in retaining and increasing its oil and gas production.

Gatot said that the first trial of the new system would be implemented in the development of the oil and gas field in the deep sea of Makassar in South Sulawesi province.

He said that several oil and gas firms had asked him about the new consortium system. (*)