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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