Pertamina bullish on Libyan blocks

Offshore staff

(North Africa) - The Indonesian state-owned oil and gas company PT Pertamina expects as much as 690 MMbbl of oil reserves in the Sabrata block offshore Libya and 300-400 MMbbl in the onshore Sirt block.

Pertamina president director Widya Purnama said the Sirt block was ready for drilling and seismic tests have been conducted.

Pertamina was among the 19 winners tender for oil blocks announced on October 2 by Tripoli. Formal contracts will be signed on October 15.

Pertamina's subsidiary, Pertamina EP Libya Ltd., would form a joint venture to explore the blocks, keeping a 55% stake, Widya says

10/11/05