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Pertamina eyes stakes in Masela block

JAKARTA (rambuenergy.com) – State energy company PT Pertamina expressed the company’s interest to purchase stakes in Masela Block, operated by Inpex Corporation of Japan. The block contains huge gas reserves of around 10.7 trillion cubic feet (tcf).

Wianda Pusponegoro, Vice President Corporate Communication Pertamina said, Pertamina has sent a letter of interest last year on Pertamina’s interest on Masela Block before the current board of management.

A local company, PT Energi Mega Persada, owned by Bakrie Group, earlier held 10 percent working interest in the Masela Block, however, the company sold its interest back to Inpex due to financial difficulties.

There were rumor that Pertamina may consider swap its interest in Mahakam block with Inpex interest in Masela block. Director General for Oil and Gas at the Energy and Mineral Resources Ministry I Gusti Nyoman Wiratmaja said the government would welcome if Pertamina opts to swap its interest in Mabakam with interest in Masela block.

Curerntly, Inpex holds 65 percent working interest in Masela Block and the remainign 35 percent is held by Shell.

Meanwhile, Inpex recently submitted revised Plan of Development for Abadi Field in Masela Block worth around US$14 billion. The energy ministry targets to approve the PoD by October 10.  (*)

 

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