Tuesday, May 31, 2011
Asia Pulse Pte Ltd.
The Indonesian government is urged not to hesitate in naming state oil and gas firm PT Pertamina as the operator of the East Natuna block for the national interest.
Executive director of Indonesian Resources Studies Marwan Batubara said Pertamina has repeatedly said that it is keen on being the operator of the giant gas block.
Marwan said he suspected the government tended to hand over the job to ExxonMobil, which is one of Pertamina's partners in the US $52 billion venture.
East Natuna block in the South China Sea of Riau, is believed to have a potential reserve of 222 trillion cubic feet of gas and 500 billion barrels oil with proven gas reserve of 46 trillion cubic feet.
The government has awarded the project to Pertamina but the company needs financially powerful partners with high technology as the Natuna gas is known to have high content of CO2.
Pertamina already signed an initial agreement with ExxonMobil and two other partners Total E&P Activities Petrolieries and Petronas.
The government has given Pertamina and its three partners until August to wrap up negotiations on commercial terms before a production sharing contract is signed.
(C) 2011 Asia Pulse Pte Ltd.
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