Pertamina upset over delay in ToC approval for Natuna block

State owned oil and gas firm PT Pertamina is upset over the delay in the issuance of approval by the government for the terms of condition (ToC) for the development of Natuna D Alpha gas field in Riau.

President Director Karen Agustiawan said on Friday that the delay would not only affect the development plan of the field but also the company?s overall work programs.

Karen said that she did not understand why it took so long for the ministry to respond to Pertamina?s ToC proposal.

She said that Pertamina needed certainty related to ToC because the development of the Natuna D Alpha field was part of the company?s plan to meet the oil and gas production target.

?If the uncertainty related to ToC approval continues, it will be better for Pertamina to find other fields in raising the company?s oil and gas production,? she said, adding that the company had also been forced to delay the process of selecting its partners in developing the gas field because of the uncertainty related to ToC.

A number of major oil companies including ENI Spa, Chevron, Exxon Mobil, Petronas, and Total EP have expressed their willingness to join Pertamina as partners in the development of the gas field. (*)