Firms briefed on Natuna

Firms briefed on Natuna

JAKARTA (JP): State-owned oil company Pertamina opened a three
day meeting yesterday on the giant Natuna gas project for
potential Japanese participants, the company said in a statement
here.

Pertamina signed a confidential agreement last month with 13
Japanese gas and power companies to join in the development of
the Natuna gas project in the South China Sea.

The companies taking part in the meeting include oil companies
Inpex, JNOC, Japex and Teikoku Oil and nine trading companies:
Mitsubishi, Nissho Iwai, Sumitomo, Itochu, Mitsui, Marubeni,
Tomen, Nichimen and Kanematsu.

Pertamina, which holds 50 percent interest in the production
sharing contract for the Natuna fields, is considering reducing
its shares by farming out of a portion of the concession to Mobil
Oil in Jakarta. (04)