Pertamina teams up with Petronas, CNPC in Iraqi bidding
Tuesday, June 30 2009 - 06:56 AM WIB
State oil and gas company PT Pertamina is teaming up with Malaysian firm Petronas and Chinese firm CNPC to bid on an oil block in Iraq, a company source said.
The source said that the consortium is eyeing to get hold of West Qurna block.
Pertamina Hulu Energy (PHE) Spokesperson Ali Mundakir confirming that the company is bidding for a block and said announcement is expected to be made July 1. PHE is an upstream unit of Pertamina.
The chance to develop six giant oil fields and two gas fields in Iraq has attracted bids from 31 firms including US and European giants like ExxonMobil and Shell.
The oil deposits, holding known reserves of 43 billion barrels of crude, are in southern and northern Iraq while the gas concessions are west and northeast of Baghdad. (godang)