Pertamina to submit offer for Repsol assets today
Tuesday, October 16 2001 - 05:53 AM WIB
State oil and gas company Pertamina will submit an official offer to the Spanish-Argentinean oil and gas company Repsol YPF Maxus for buying its Indonesian assets, according to Pertamina?s production sharing management director Effendi Situmorang.
Situmorang did not mention the value of the offer, but Petromindo.com?s sources said it amounted to US$650 million.
Late last month, Repsol was reported to have demanded $700 million from Pertamina for its Indonesian assets.(godang)