Pertamina teams up with CNOOC to explore oil, gas in Sudan

State-owned oil and gas company Pertamina will team up with Chinese oil company CNOOC to develop an oil and gas field in Sudan, Northern African country as part of the company's expansion program overseas.

 

Pertamina's president director Ari H Soemarno said in Jakarta last week that Pertamina would have a 15 percent participating interest in the oil and gas field, while its partner CNOOC would control the other 85 percent interest.

 

"We cooperate with other companies as part of our risk management, " he was quoted by Kontan daily as saying. He added Pertamina was conducting a seismic survey on the oil field with total spending of between US$100,000 and $200,0000.

 

He said that Pertamina would spend between $50 million and $60 million on expansion overseas projects. (*)