Pertamina says no to Mitsubishi?s request for C. Sulawesi gas blocks stake

State oil and gas company PT.Pertamina said on Thursday it would not farm out its interest in Central Sulawesi gas blocks to Japanese firm Mitsubishi Corp.

?Pertamina has received special privilege from the government in the form of more favorable split, therefore Pertamina would not want sell part of interest in Senoro-Toili block or Donggi block to Mitsubishi,? Vice President Director Iin Arifin Takhyan told reporters.

Mitsubishi, the majority shareholders of the proposed Donggi LNG plant project, which gas supply would come from both blocks, has asked for participation in the blocks.

Pertamina has 100 percent interest in Donggi block and 50 percent in Senoro-Toili block, which the company jointly operated with JSX-listed oil, gas firm Medco Energi.

?If Mitsubishi wants upstream stake (in Senoro-Toili), they must talk with Medco,? said Iin.

Mitsubishi, Medco and Pertamina are currently in talks to finalize agreements on the LNG project, which is planned to have capacity of 2-2.5 MTPA and completed in 2010. Iin said the three parties expected final investment decision could be made by the end of this year. (godang)