Pertamina Finalizing Mahakam Block Due Diligence
30 January 2015 12:32 WIB
TEMPO.CO, Jakarta – State-run oil and gas company PT Pertamina (Persero) is targeting to fully operate the Mahakam block 100 percent to gain maximum profits. Pertamina president director Soetjipto said that the company is team is conducting a due diligence on block, expecting for it to be done in February.
The government gave Pertamina until the end of this month to submit the management proposal for the block, in hopes that a decision can be published in February 2015.
Sudirman Said, Minister of Energy and Mineral Resources, said Mahakam block's management will be forwarded to Pertamina after 2017. The government will facilitate a meeting between Pertamina and current manager, Total E&P Indonesia to prepare for the transition period as well as to exchange information.
French oil contractor Total is the current operator of Mahakam with 50 percent participating interest. The remaining 50 percent is owned by Japan's oil company Inpex Corporation. Total's contract in Mahakam will expire in 2017, 50 years since it first started managing the block.
AMIRULLAH | KHAIRUL ANAM | ALI HIDAYAT
