Indonesia's Pertamina Proposes to Take over Sanga-Sanga Oil Block



Reuters

JAKARTA, May 29 (Reuters) - Indonesia's state oil and gas company Pertamina has put forward a proposal for it to take over the Sanga-Sanga oil block, Wiratmaja Puja, director general oil and gas at Indonesia's Energy Ministry, told reporters on Friday.

The block currently produces 16,733 barrel oil per day and is operated by VICO Indonesia, whose contract is due to expire in 2018. Among the block's shareholders are BP East Kalimantan, controlling 26.25 percent, and Virginia International Co, controlling 15.6 percent.

(Reporting by Wilda Asmarini; Writing by Fransiska Nangoy; Editing by Richard Pullin)



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