JAKARTA, Indonesia Today – Vice Minister of Energy & Mineral Resources, Rudi Rubiandini, confirms state-owned oil & gas company PT Pertamina will hold the majority participating interest in the giant East Natuna Block.
Rudi told reporters in a press conference on Sunday (12/8) that he forgot about the percentage, but ensured Pertamina as the majority holder. The operatorship of the block, however, has yet to be concluded. The government has asked Upstream Oil & Gas Regulatory Body (BPMigas) to look for independent consultant to study the operatorship and target for completion in the next two weeks.
The East Natuna Consortium, the controller of the block, was previously consisted of PT Pertamina (35%), ExxonMobil (35%), Total SA (15%), and Petronas (15%). However, Petronas has pulled out from the block back last February.
Exxon and Pertamina have been competing for Petronas