Pertamina May Take 15% of E&P Contracts Signed in 2008

New Indonesian exploration contracts signed in 2008 will be different from previous contracts in the country. Oil and Gas Director Lukuk Sumiarso announced that the state-owned oil and gas company Pertamina will be able to claim a 15% share in all oil and gas blocks.

According to the newly enacted special rights, after a company or JV has been announced as the winner of an exploration block, Pertamina will be given up to 14 days to claim its 15% share or not.

The director added that the company will pay for the share in the exploration block.

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