Gulf Oil and Gas accountACCOUNT

Total in Talks with Pertamina on Overseas Asset Swap for Mahakam Interest

Source: Reuters 4/21/2015, Location: Asia

Total is in talks with Indonesia's Pertamina on a possible asset swap in return for a continuing participating interest in the country's top gas producing field, an official at the French oil major said on Tuesday. 'We are open to swapping one of our overseas assets with Pertamina,' Total Indonesie President and General Manager Hardy Pramono told reporters, referring to Total's operations in Indonesia, Canada and Africa. 'We are discussing this with Pertamina.'

With Pertamina due to take over operatorship of the Mahakam block from Total in 2018, the asset swap was suggested by the Indonesian government to leverage a partnership between the two resource firms while expanding the country's resource base.

Total plans to cut its budgeted investment in Indonesia this year by 10-15 per cent from a target of US$2.4 billion, a company spokesman said, citing a decline in global oil and gas prices.

Acquisitions and Divestitures News in Indonesia >>

Ireland >>  1/23/2020 - Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, provides an update on the far...
Mexico >>  1/22/2020 - Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA (EMGS) on 4 June 2019, wherein the Company informed ...

Indonesia >>  1/21/2020 - Mubadala Petroleum announces that it has completed the farmout of a 20 percent participating interest in each of the Andaman I and South Andaman Gros...
Australia >>  1/20/2020 - The Board of Metgasco Ltd has executed a re-stated L14 Western Flank farm-out agreement with RCMA Australia Pty Ltd (“Jade”) and Vintage Energy Ltd. ...

Egypt >>  1/20/2020 - Petroleum Minister Tarek el Mulla signed nine agreements on oil and gas exploration in the Mediterranean and Western Desert with total investments of ...
United Kingdom >>  1/20/2020 - The Company is pleased to provide an update to the announcement of 4 November 2019, regarding the exclusivity agreement (the "Agreement") in respect o...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Indonesia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.