Pertamina seeking to farm into Masela block
Friday, March 25 2016 - 01:47 AM WIB
State owned oil and gas firm PT Pertamina (Persero) has held a meeting with Inpex Corp, the operator of the gas-rich Masela block in Maluku province, to discuss the possibility of the state firm farming into the block, according to SKK Migas.
?The meeting was arranged by SKK Migas several days ago. The purpose was to discuss of forming strategic alliance for the domestic market,? SKK Migas? Chairman Amien Sunaryadi said on Thursday, adding that Masela block needs domestic market to absorb its LNG production in the future.
Pertamina has appointed a person-in-charge to further talk with Inpex on its behalf.
Director General of Oil and Gas IGN Wiratmaja said at present, discussion is still ongoing on the possibility of Pertamina farming into the block.
?Our expectation is that Pertamina will have been inside (the Masela block) in 2028,? Wiratmaja said, referring to the expiry date of Masela PSC.
Masela block is 65 percent owned by Inpex, 35 percent owned by Royal Dutch Shell.
Editing by Johannes Simbolon