Pertamina defends majority in East Natuna

JAKARTA: PT Pertamina (Persero) will defend its status of being operator and majority shareholder in East Natuna Block, Riau Islands Province, although it must set up partnership with some other oil companies.Pertamina's President Director Karen Agustiawan
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News Editor - Bisnis.com 10 Desember 2010  |  00:17 WIB

JAKARTA: PT Pertamina (Persero) will defend its status of being operator and majority shareholder in East Natuna Block, Riau Islands Province, although it must set up partnership with some other oil companies.Pertamina's President Director Karen Agustiawan confirmed head of agreement (HoA) was signed between the state oil company and ExxonMobil Corporation some time ago. Both, she added, agreed to enter futher details on the development of previously-called Natuna D Alpha block."We will still be the operator as well as the majority shareholder in Natuna, she said yesterday.In fact, she also explained the state oil company's interest to manage Exxon's assets if the US oil company becomes its partner in Natuna.After the HoA, we still have to wait for the results of B-to-B talk. If Exxon does join in Natuna, Pertamina shall manage Exxon's productive assets. So HoA is not yet completed.Still, she signaled cancellation of the business agreement is possible if Pertamina fails to gain from Exxon's assets. (NOM)

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