Pertamina, Indika To Bid For BP Stake In West Java Oil Block
25 5월 2009 - 5:14PM
Dow Jones News
Indonesian state oil firm PT Pertamina (PTM.YY) and PT Indika
Energy (INDY.JK) may jointly bid for BP PLC's (BP) stake in the
Onshore West Java oil and gas block, a Pertamina spokesman said
Monday.
"We are calculating how large a share to take and (how large a
share will be taken by) Indika, as well as the issue of funding,"
Pertamina's vice president for communications, Basuki Trikora
Putra, told reporters.
BP owns 46% of Onshore West Java, according to data from
official oil and gas regulator BPMigas.
Tenders for the stake are scheduled for later this year.
BPMigas data estimates Onshore West Java will produce 135
million British thermal units of liquefied natural gas next
year.
The regulator has previously said the block will produce about
28,000 barrels of crude a day this year, with output likely to fall
to around 26,000 barrels a day in 2010.
BP's stake in the block is estimated to be worth around $600
million.
-By Deden Sudrajat, contributing to Dow Jones Newswires; 62 21
3983 1277; Reuben.Carder@dowjones.com