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)