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AnisJ
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UPDATE:Indonesia Pertamina,Statoil To Explore S Maluku Area
Vrijdag 30 Maart 2007 06:53
(Adds details on possible future Pertamina,Statoil cooperation)
JAKARTA -(Dow Jones)- Indonesia's state-owned oil firm Pertamina (PTM.YY) and Norway's state-owned Statoil ASA (STL.OS) have signed a memorandum of understanding for joint oil and gas exploration of the south Maluku islands area, a senior Pertamina executive said Friday.

'This (will be) an initial exploration in an area where there is no (oil and gas reserves) information,' Pertamina President and Chief Executive Officer Ari Soemarno told reporters at the conclusion of the MOU's signing ceremony.

If the planned exploration of the area yields evidence of exploitable oil and gas reserves, 'we will apply to the government for the rights to this block,' Soemarno said, without providing any timetable for when exploration might begin.

This latest deal follows a more general joint cooperation MOU between Pertamina and Statoil signed last November.

Earlier this month, the Indonesian government awarded exploration and development rights for the Karama offshore oil and gas block in West Sulawesi province to a joint venture between Pertamina and Statoil.

Soemarno said Statoil was also a 'potential partner' in the development of the Natuna D-Alpha gas block, without elaborating.

In 1995, Indonesia and U.S. oil giant Exxon Mobil Corp. (XOM) signed a contract covering around $40 billion of investment to develop the block, which is estimated to have 222 trillion cubit feet of gas reserves. Exxon Mobil owns a 76% stake in the block and Pertamina the remainder.

But the government and Exxon are locked in a disagreement over the life of the contract, with the government claiming it expired after Exxon Mobil failed to make significant progress to develop the block. Exxon, however, says that it still has two years to meet the conditions.

Monday, a senior executive of the Indonesian unit of France's Total S.A. (TOT) said the firm may consider a possible offer to become a partner in developing the Natuna D-Alpha Block with Exxon and Pertamina.

Source: www.beurs.nl/nieuws/artikel.php?id=214968&taal=US


  • After nearby Papua province, Bintumi area, what will be the results ......

  • Sadly my father-in-law had passed away already recently, but I remembered him saying, he'd read an article of a Japanese oil-expert in a periodical of the INDOnesian ambassy, he said that despite in Dutch colonial times it was said many times that in the Moluccas there was only one place to find oil, at Bula Ceram ..... it was not real ...... it was only a question of how high the price a barrel is, of oil and how easy it is to explore ...... he alo remind people how long the oil was exploited at Saudi-Arabis for instance ......

    At that certain time people said that it was INDOnesian propaganda ......


  • 'Ahu kura ahia, mansia nia'

    AnisJ
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    For the people who like to have 'background-information' :



    Source: www.indonesia.no



    'Ahu kura ahia, mansia nia'

    AnisJ
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    Is East-INDOnesia promising more ....:

    www.highbeam.com/doc/1G1-44220685.html


    'Ahu kura ahia, mansia nia'


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