Pertamina to sign new oil contracts

The state oil and gas company Pertamina is expected to immediately sign two new oil production sharing contracts and four new technical assistance contract, according to a government source.

The source said that the contract would be signed on Monday at the Ministry of Mines and Energy to be witnessed by the Minister Susilo B. Yudhoyono.

The source said that the two production sharing contracts would be signed by Kupfec from Kuwait and Kalrez from Australia, two oil companies which had long been exploring in Indonesia but had previously never succeeded with its oil finding. (*)