PHE to transfer operatorship of CBM blocks to Sugico

By Godang Sitompul

PT Pertamina Hulu Energi (PHE) plans to transfer the operatorship and part of its participating interest in four CBM blocks to PT Sugico to help accelerate the development of the blocks.

The four CBM blocks include Air Benakat 1 and 2, and Muara Enim 1 and 3, company Corporate Secretary Wahidin Nurluzia told Petromindo.com Friday.

He, however, said that the planned transfer would require the approval of its parent company, state-owned oil and gas firm PT Pertamina, and the upstream oil and gas authority SKK Migas, as well as on Sugico meeting a number of conditions.

As previously reported by this portal, PHE President Director I. Tenny Wibowo said that his company could not effectively and efficiently develop the entire blocks on its own.

PHE has interest in 14 CBM blocks, nine of which with operatorship status including Muara Enim 1 and 3; Air Benakat 1, 2 and 3; Suban 1 and 2; and Tanjung Enim 2 and 4.

Editing by Reiner Simanjuntak