Pertamina, Petronas seeking new oil, gas venture

The state-owned oil and gas firm Pertamina and its Malaysian counterpart Petronas are seeking ways to jointly develop the Anoa oil and gas field in the Natuna Sea spanning in the border of the two countries, according to a company source.

The source could not provide much details about the plan, saying that a committee had been set up to study the best commercial alternatives to develop the oil and gas field.

The Annoa field on the Indonesian side falls under the Natuna Sea Block A area operated by Premier Oil (which owns 66.7 percent interest). It has a production of 110 million cubic feet of natural gas per day.

Petronas owns a 25 percent stake in Premier.

If the project is realized, it will not be Petronas? first venture with Pertamina. The Malaysian company had also interests in two oil concessions in Pasemah PSC, South Sumatra, together with Medco Energy; and in the Ketapang PST, in East Java, with Gulf Indonesia Resources.(Amoros)