Japan slow on Natuna<\/p>\n
TOKYO (Reuter): A Japanese consortium has yet to be formed to
\nbuy a stake in the Natuna gas project from Indonesia's state-
\nowned Pertamina although it was originally due to be set up by
\nthe end of 1996, traders said yesterday.<\/p>\n
Pertamina now has a 24 percent stake in the giant natural gas
\nproject in the South China Sea, and plans to reduce its share to
\n11 percent.<\/p>\n
Final members of the Japanese consortium have not been decided
\nas firms interested in joining it are having a difficult time
\nagreeing on how the 13 percent stake should be divided among
\nparticipating companies, traders said.<\/p>\n
"Naturally, more than one firm is eager to acquire a major
\nchunk of the 13 percent," a trader said.<\/p>\n
Nine trading houses -- including Mitsubishi Corp, Mitsui & Co
\nLtd and Nissho Iwai Corp -- and three exploration firms are
\ninterested in taking part in the consortium, traders said.<\/p>\n
Japan National Oil Co (JNOC) may also join the consortium, a
\nJNOC official said.<\/p>\n
The Natuna project is currently owned 50 percent by Exxon Corp
\nand 26 percent by Mobil Corp, in addition to Pertamina's 24
\npercent.<\/p>\n
The Natuna gas field contains an estimated 45 trillion cubic
\nfeet (tcf) of recoverable gas.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/japan-slow-on-natuna-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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