Total welcomes Pertamina?s request for a stake in Mahakam

French energy giant Total SA has signaled a positive response to state owned oil and gas firm PT Pertamina?s request for a 15 percent stake in the former?s Mahakam giant gas field in East Kalimantan.

?We already have a mutual understanding with Total. We stick to our request for a 15 percent stake (in Mahakam block). Pertamina will get into Mahakam before 2017 (the time Total?s current contract on the block expires),? Pertamina?s CEO Karen Agustiawan said on Monday.

Karen made a trip to Paris last week to discuss the issue with Total?s CEO Christophe de Margerie.

In return for the stake, Pertamina will "open" its working areas to Total, Karen said. In response, Total also offered cooperation with Pertamina to explore its oil and gas fields in Angola, Australia and Vietnam.

Total has asked the government to extend its contract on the Mahakam block and governmental officials have said they would ask the firm to allow Pertamina to take a stake in the block as a requirement for the contract extension. (Godang)