Pertamina eyes 10% of three gas fields

Offshore staff

JAKARTA, Indonesia -- Indonesia's state-owned oil company PT Pertamina is interested in taking at least 10% stake in the development of three gas fields in two deepwater blocks offshore East Kalimantan.

Tri Siwindono, Pertamina deputy director for upstream business, says the company would be keen to acquire at least 10% in the Rapak and Ganal blocks. Stakes would be secured per Indonesian law, which gives Indonesia the option to farm in at the development stage.

Operator Chevron awaits development plan approval before moving forward with the Gehem and Gendalo gas fields in the Ganal block, and the Ranggas gas field in the Rapak block. The operator is aiming for production by 2013.

Chevron operates the blocks with 80% interest. ENI holds the remaining 20%.

3/14/2007