State oil and gas company PT.Pertamina is considering to buy 25 percent interest in Jambi-Merang PSC, onshore Jambi from Hong Kong-based firm Pacific Oil& Gas, CEO Karen Agustiawan said on Monday.
?We are still evaluating the prospect of the block,? Karen said.
Pertamina already has 50 percent stake in the block with US firm Hess Corp. having the remaining 25 percent.
The block is scheduled to commence production in 2010, with peak production of 120 MMCFD of gas and 12,000 BPD liquids reached one year after. Gas from the block will be piped to PLN?s power plant in Java.
Meanwhile, Karen also said that Pertamina is also in talks with Australian oil, gas firm Santos Limited to buy 9 percent interest at Kakap PSC, offshore Natuna. ?We have completed evaluation and will submit offer,? she said.
Indonesian-based firm Star Energy is the Kakap block operator with 31.25 percent interest. Other participants are Premier Oil (18.75 percent), Medco Energi (18 percent), Singapore Petroleum Company (15 percent) and Pertamina (10 percent).
Pertamina, teaming up with IDX-listed energy firm PT.Indika Energy is also competing to buy 46 percent stake at BP-operated Offshore Northwest Java oil, gas block offshore West Java. ?Pertamina will soon submit second bid documents,? she said without giving detail. (bernard)
