Pertamina will accept any CNOOC decision on ONWJ shares divestment

State oil and gas company PT Pertamina said it will accept if it is not selected as the winner of tender for the sale of 36.72 percent shares of China National Offshore Company (CNOOC) in Offshore North West Java (ONWJ) block.

?We will accept if we?re not selected by CNOOC. We admit that we have offered lower price compared to other participants,? a source from Pertamina told Petromindo.com. He declined to disclose the price offer of Pertamina.

Separately, Director for Upstream of Pertamina, Muhammad Husein, told Petromindo.com on the sideline of World Renewable Congress in Bali that Pertamina has yet to receive information from CNOOC who was the winner of the CNOOC shares divestment.

President Director of PT Medco Energi Internasional Tbk, Hilmi Panigoro, also said he has not received announcement from CNOOC.

Earlier, CNOOC was reported to have selected Medco Energy as the winner of the tender for CNOOC shares in ONWJ.

Currently Pertamina holds the majority stake of the ONWJ block through its unit PT Pertamina Hulu Energy with 53.25 percent

Four companies - PT Medco Energi Internasional Tbk, PT Pertamina Hulu Energy, PT Energi Mega Persada Tbk and PT Samudra Energy - submitted bids for the CNOOC shares in ONWJ. (godang)