Indonesia's Pertamina Eyes 'at Least' 10% Stake in Inpex Gas Block

Pertamina said the acquisition of the 24.5 percent stake from Maurel et Prom (M&P) chairman and chief executive, Jean-Francois Henin would fit well with plans to bolster its upstream business globally.(Antara Photo/Akbar Nugroho)

By : Wilda Asmarini | on 5:25 PM February 01, 2016
Category : Business, Corporate News

Jakarta. Indonesia's Pertamina, has told the government it wants a stake of "at least" 10 percent in the Masela oil and gas block now being operated by Japan's Inpex, the chief executive of the state energy company said on Monday.

Earlier, Pertamina said it was interested in acquiring a stake in the Abadi floating liquefied natural gas (FLNG) project now being developed by Inpex and Royal Dutch Shell in the Masela block.

"We have asked Inpex, but Inpex's response was they won't release their shares," Pertamina Chief Executive Dwi Soetjipto told reporters.

"Maybe we'll see [again] during their contract extension talks. Maybe we can get it then."

The Masela block is situated near Indonesia's border with northern Australia. Inpex is looking for a 20-year extension to operate Masela until 2048, from the current expiry date of 2028.



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