Pertamina Negotiating for Stake in Jabung Block on Sumatra
Thursday, April 03, 2003
Pertamina is negotiating with Amerada Hess to acquire Amerada Hess' interest in the Jabung Block on Sumatra island, Indonesia. Amerada Hess has a 30% stake in the Jabung block. Petronas and Petrochina each hold a 30% interest while Pertamina holds the remaining 10%. Pertamina would like to acquire a larger stake in the natural gas block because they say it is a good asset. Natural gas from the Jabung block along with gas from two other suppliers is contracted to be sold to Singapore under a 20-year deal which will begin during the fourth quarter of 2003.