Pertamina sees CPP as stepping stone to Middle East

President of state oil and gas company Pertamina Baihaki Hakim said at the weekend that a "sympathetic" resolution to the dispute over the Coastal Plain Pekanbaru (CPP) oil field would be a big stride for Pertamina to implement its overseas expansion programs.

"The CPP case can be a stepping stone for Pertamina to expand overseas particularly in the Middle East," Baihaki was quoted by Republika daily as saying.

"There's a huge potential here. We hope we can forge a cooperation with Middle East investors," he added.

Baihaki didn't elaborate.

PT Caltex Pacific Indonesia will soon end its contract with the government to exploit the CPP oil field in the Riau province. The government has insisted that it wants to become the majority if Caltex wants to renew its contract. Meanwhile, the Riau administration also insists that it must have a stake in the CPP oil field. (*)