Pertamina wants to takeover Sanga-Sanga block
Monday, June 1 2015 - 02:18 AM WIB
State-owned oil and gas firm PT Pertamina has expressed interest to acquire the Sanga-Sanga oil and gas block in East Kalimantan when the contract of existing operator PT Vico Indonesia expires in 2018, Kontan reported on Monday.
The paper quoted Director General of Oil and Gas I Gusti Nyoman Wiratmadja as saying that the company has submitted the request in a letter to the Ministry of Energy and Mineral Resources. ?The old (existing operator) has yet to propose for (contract) extension,? he said, but added that the company has informally stated it wants to extend the contract.
Wiratmadja, however, said that the government would prioritize Pertamina in operating strategic blocks which have huge reserves to help empower national companies.
The Sanga-Sanga block has estimated oil reserves of about 13,232 thousand stock tank barrels, and gas reserves of 448.96 billion cubic feet. Production stands at 16,733 boepd. (*)