Pertamina to take over Ramba TAC operations in October
Tuesday, May 18 2010 - 09:39 AM WIB
PT Pertamina EP, an upstream unit of state oil and gas company PT Pertamina (Persero) said it would not extend contract of Ramba TAC block onshore Jambi which will expire in October this year.
Pertamina EP Spokesperson M. Harun told Petromindo.Com on Tuesday that the Company would take over the block?s operations from current operator Elnusa Tristar Ramba Energy (ERTL).
?We are going to operate the block ourselves,? Harun said. According to him, the block, which is currently producing oil at the rate of 4,500 BOPD has good upside potential.
?Pertamina EP is preparing a team to immediately take over the block as soon as the contract is over,? he said.
ERTL, which has 60 percent stake in the block, is trying to get 10-year extension under the new contractual form known as ?Joint Operation Contract? or KSO. Talisman (Sumatra) Ltd, a unit of Canadian oil, gas firm Talisman Energy has the remaining 40% working interest as the non-operating partner in the TAC.(alex)