Pertamina wants stake at Mahakam before contract expires

State oil and gas company PT Pertamina wants to acquire 15 percent stake in Total-operated Mahakam giant gas block in East Kalimantan before the block?s contract expire in 2017.

President Director Karen Agustiawan told reporters on Monday that Pertamina wanted the stake to be increased to 50 percent in 2017 when the block?s contract will be extended by the government.

"We want 15 percent interest in the block now and 50 percent in 2017," she said.

Total with its 50:50 partner in the block Inpex Corp. are trying to get contract extension for Mahakam and had already started negotiation with the government, which hinted participation of Pertamina as one of the conditions for contract extension.

Mahakam block is currently number one supplier to Bontang LNG plant with output of around 2.6 BCFD and some 40,000 BPD of condensate.

Karen did not say if Pertamina had held talks with Total about the interest acquisition plan.(godang)