PHE determined to acquire ConocoPhillips? block in Algeria
Friday, August 2 2013 - 02:38 AM WIB
By Godang Sitompul
PT Pertamina Hulu Energi (PHE) said that it hopes to be able to settle a number of condition precedents before the end of this year to allow it to complete the planned acquisition of an oil block in Algeria owned by ConocoPhillips.
?There are a number of condition precedents that have yet to be settled. We want to settle it quickly before the end of the year,? PHE President Director Tenny Wibowo told Petromindo.com Friday.
He declined to provide details, but said that the company remains interested in acquiring the block in Algeria.
Editing by Reiner Simanjuntak