JAKARTA (Yosefardi) – State gas distributor PT Perusahaan Gas Negara (PGN) Tbk (PGAS) provides US$750 million fund for acquiring more oil and gas blocks, Bisnis Indonesia reported this morning.
Nusky Suyono, PGN’s investor relation, said the company is now in billateral negotiation with some operators, including Hess, which intend to sell their blocks.
In first half of this year, PT Saka Energi Indonesia, unit of PGN, has acquired three blocks; Ketapang (East Java) with value of US$71 million, Bangkanai (Central Kalimantan) for US$27 million, and Kufpec Indonesia (Pangkah) BV for US$265 million.
Meanwhile, PGN is reportedly reluctant to build a synergy with state oil and gas company PT Pertamina in gas station project, in accelerating the conversion of fuel into gas.