Total ready to cooperate with Pertamina

By Febry Silaban

French firm Total E&P Indonesie stated that it is ready to engage in discussions with state owned oil and gas firm PT Pertamina (Persero) about its possible post-contract participation in Mahakam Block in East Kalimantan and to start a new era of cooperation between two companies.

?Of course this will depend on the terms and conditions which will be agreed upon after discussions,? President Director of TEPI Hardy Pramono said.

Hardy noted however that ?at this stage it is too early for us to commit to any decision or any level of participation, but we are ready to make our best efforts to reach an agreement?.

The government has decided to award 70 percent of the Mahakam block to Pertamina and the East Kalimantan government?s firm after the expiry of the existing contract held by Total and Japanese firm INPEX Corp. in 2017, while allowing Total and INPEX to take up to the remaining 30 percent interest.

Editing by Johannes Simbolon