Pertamina welcomes PTT's interest in Natuna

By Godang Sitompul

State owned oil and gas firm PT Pertamina welcomes plans by PTT Thailand to join in the consortium to develop East Natuna block, Riau Islands.

Director of Risk Management and Investment Afdhal Bahaudin said Pertamina will cooperate with any company in the block.

"We are ready to cooperate with PTT or whoever who promotes equality, and of course it has to be profitable for all," he told petromindo.com.

As reported earlier, PTT has expressed interest in joining Pertamina in a consortium with Total E&P Indonesie and Esso Natuna Ltd.

Pertamina also expects the finalization of terms and conditions for the block by the end of the year.

"With regard to terms and conditions, discussions are still underway. We hope to finalize them this year," President Director of PT Pertamina East Natuna Denie S.Tampubolon told petromindo.com.

Pertamina East Natuna is the Pertamina unit set up to manage the block.

Editing by Dadan Wijaksana