Pertamina to sign accord with Petronas and PetroVietnam in September

State oil and gas firm Pertamina will in September sign a memorandum of understanding with Malaysia?s Petronas and Vietnam?s PetroVietnam to jointly develop oil fields onshore Sarawak, Malaysia, a senior executive of Pertamina said on Thursday.

Iin Arifin Takhyan, head of the upstream operation of Pertamina, said 40 percent of the capital required for the oil field project would come from Petronas, while Pertamina and PetroVietnam would equally share the remaining 60 percent. The project will be located in SK 305 Block in Sarawak, Malaysia.

Iin Arifin made the statements in Tampak Siring, Bali immediately after attending a ceremony to mark the first delivery of natural gas from Indonesia?s West Natuna to the Duyong gas platform offshore Peninsular Malaysia. President Megawati Soekarnoputri and Malaysian Prime Minister Mahathir Mohamad jointly dedicated the maiden gas delivery. (godang)