Pertamina to seek financing from Saudi

State oil and gas company PT. Pertamina will seek financing from Saudi Arabian investors to develop a number of projects, including geothermal and E&P during president Susilo Bambang Yudhoyono?s planned visit to the country this week.

?Pertamina offer Saudi Arabian investors opportunity to finance Pertamina?s geothermal projects in Kamojang (West Java), Lumut Balai (Lampung), Ulu Belu (East Nusa Tenggara) and Lahendong (N. Sulawesi). Pertamina will also offer them to finance development of Cepu oil and gas block and Pondok Tengah oil and gas project in Bekasi,? Pertamina?s upstream director Sukusen Soemarinda told reporters.

He did not give further detail on Saudi Arabian investors.

SBY is planning to embark on Middle East tour this week, with energy cooperation, including securing crude supply, LNG long-term contract from Qatar to cover Indonesia?s shortfall and refinery development high on the agenda.

Meanwhile, Pertamina vice-president director Iin Arifin Talhkyan, who had just concluded Saudi Arabia visit last week, told reporters that Pertamina was in talks with Saudi oil firm Aramco over the long-term crude supply of 400,000 BPD and joint venture possibility to build a refinery in Indonesia, using crude supply from Saudi. ?But further talks are needed before the plan could be realized,? said Iin. (godang)