Pertamina, Petronas and Total Hold work on Natuna

Having signed a Heads of Agreement (HoA) with ExxonMobil and PT Pertamina (Persero) today signed a HoA with French oil company and Malaysia, namely Total and Petronas to work on the Natuna block.

HoA The signing was held on the sidelines of the signing of the Cooperation Contract regular auction of Phase I in 2010 to 3 Working Area (South Sokang, Sokang, Wokam II) conducted in the office of the Ministry of Energy and Mineral Resources, Jakarta, Friday (17/12 / 2010).

"Later on this matter would be discussed again in the near future," said Karen.

Karen said that the next process will be discussed about the terms and conditions or preconditions in advance cooperation with the government.

"Now only the first Head of Agreement. Because it's needed first umbrella," said Karen.

Related problems opening the opportunity Pertamina will have a majority stake in the East Natuna block, Karen did not want to explain the reasons to be discussed first in the business by its partners.

However, she expressed optimism that the project has been 'displaced' since 2008 is able to walk.

"Please note, yes, so then we go through the process of B to B (business to business) used to yes. After that, when it's confirmed, then we go to the JOA (joint of agreement) and PSC (Production Sharing Contract / Production Sharing Contract), later was carried out simultaneously, "explained Karen.

As is known, since 2008, the government appointed Pertamina to manage the field with a content of 500 million barrels of oil and 222 trillion cubic feet of gas is. However, this red plate companies need partners to manage the block because it requires huge investment and high technology.

Investments issued by foreign oil companies for this very large Natuna development through technology that could produce gas from the block. Therefore, the gas produced will be sold at prices in accordance with international prices