Pertamina to talk with Repsol-YPF over asset acquisition

State oil and company Pertamina will leave for Madrid to talk with Spanish-Argenti9nen oil firm Repsol-YPF over the plan to acquire the latter?s Indonesian oil and gas interests.

Pertamina?s upstream director Iin Arifin Takhyan told Petromindo.com on Thursday that he would lead Pertamina?s delegation.

?We want to have a talk with Repsol-YPF and to assure them that we remain committed to acquire Repsol?s interest in Indonesia,? he said.

Repsol-YPF wanted to sell all its Indonesian assets following its plant to focus its operation in North Africa and South America.

The company owns a 65 percent stake in the South East Sumatra block, which is the country?s largest offshore oil producing block; 36.7 percent in the North West Java producing block; 25 percent in the West Madura producing block; 50 percent in the Poleng producing block.

It also has stake in several exploration blocks, including the Jambi Merang block (25 percent) , the Blora block (16.7 percent), the South Sokang block (45 percent).

The company currently produces about 150,000 barrels of oil equivalent per day (BOEPD). (godang)