Pertamina: To Acquire 15% Stake In Mahakam From Total This Year
August 31 2009 - 9:04AM
Dow Jones News
Indonesian state oil and gas producer PT Pertamina will acquire
a 15% in the Mahakam gas block from France's Total SA (TOT) this
year, possibly via an asset swap in which Total would gain a stake
in one of Pertamina's concessions, the Indonesian firm's chief
executive said Monday.
Total agrees to the deal but has asked Pertamina to exchange a
stake in one of its own blocks, CEO Karen Agustiawan told
reporters.
"We understand this, as no oil company wants to lose (part of)
its portfolio," she added. Her comments came following a trip to
Paris last week when officials from Pertamina and Total met to
discuss Pertamina's plan to buy part of Mahakam, which is located
in eastern Indonesia and is one of the Southeast Asian nation's
largest gas deposits.
Agustiawan said Pertamina has yet to decide which asset might be
exchanged for the Mahakam stake. She gave no further details on the
possible timing of the purchase.
Officials at Total's France headquarters couldn't immediately be
reached for comment.
-By Deden Sudrajat and Reuben Carder, Dow Jones Newswires; 62 21
3983 1277; Reuben.Carder@dowjones.com