Pertamina to take control of Mahakam once contract expires
Total and Inpex currently have a production sharing contract which will expire in 2017
Indonesia’s national oil company (NOC) Pertamina will officially take control of Mahakam, the country’s biggest oil and gas block, when French major Total and Japan’s Inpex see their production sharing contract (PSC) expire at the end of 2017. Energy minister Sudirman Said officially announced that Pertamina and local governments would have a 70% stake in the new contract, which will take effect in January 2018. Total and Inpex will have the remaining 30%. The division of the 30% interest between Total and Inpex is still being discussed, he added. The appointment of the NOC as the operator of Mahakam illustrates Indonesia’s aspiration to take a firmer grip on the nation’s natural resources
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
