Petronas eyes more oil and gas stakes in Indonesia
Thursday, July 26 2001 - 05:38 AM WIB
Pertamina?s upstream director Iin Arifin Takhyan said recently that the Malaysian company was seeking to acquire some stakes in the Pangkah production sharing contract (PSC) in East Java and the Jambi Merang PSC in the Sumatran province of Jambi.
Pangkah is owned by British oil and gas firm Premier Oil (40 percent) and American firm Amerada Hess (36 percent) and Canadian firm Gulf Indonesia Resources (12 percent), while the Jambi Merang block belongs to Pertamina and Spanish-Argentinean firm Repsol-YPF.
The Malaysian company has already indirectly had some stake in the Pangkah block as it has 25 percent stake in the British firm. It also has a 50 percent stake in the Ketapang PSC in East Java in an equal partnership with Canadian firm Gulf and some stake in the Pasemah block in South Sumatra in a partnership with the local firm Medco Energy Corporation.
Premier has been reportedly seeking to sell its stake in the Pangkah block as it wants to concentrate in the West Natuna area of the South China Sea.
The British firm is part of the consortium which supplies gas to Singapore from the West Natuna area and it is seeking to clinch a deal with Petronas to supply gas to Petronas from the same area.
Meanwhile, Triana, head of exploration and production section at Pertamina?s directorate of production sharing management, said the Malaysian company was also interested in stakes in all blocks in Sumatra which will send gas to Malaysia.
The gas will be supplied from Jambi Merang, and the Bentu block operated by Australian firm Santos and the Corridor block operated by Gulf.
The negotiation for the gas supplies to Malaysia is now in progress.
A Petronas official recently confirmed to Petromindo. Com the company was seeking to buy stakes in several PSCs in Indonesia but he refused to specify. (Godang/Alex)