Pertamina optimistic to win Devon assets sale

State oil and gas company Pertamina said it was optimistic to win the sale of US oil and gas firm Devon Energy?s assets in Indonesia despite having to compete with two other bidders.

?We believe we have offered Devon attractive price for its assets and we have also prepared sound financing scheme for the acquisition. We have the money ready,? said Eteng Salam, Pertamina?s deputy upstream director to Petromindo.Com Tuesday.

Malaysia state oil company Petronas and China?s Petrochina are reportedly compete with Pertamina for Devon?s assets in Indonesia, which includes oil and gas blocks in Southern Sumatra, East Java and Papua.

Last year Pertamina failed to acquire Spanish-Argentinean oil firm Repsol YPF in Indonesia after China?s CNOOC topped bidders list by offering Repsol US$ 585 million.

Devon?s assets sale in Indonesia is expected to be concluded by the first half of this year. (godang)