PTTEP joins East Natuna partners

Pushing ahead: fishermen battle waves in Bantul, Indonesia

REUTERS/SCANPIX

By Amanda Battersby Singapore

 01 November 2012 23:59 GMT

Thailand’s national upstream company PTTEP has come on board the East Natuna (formerly Natuna D-Alpha) gas project off Indonesia that could lead to a $40 billion-plus liquefied natural gas or pipeline development.

“For now I can confirm that PTTEP has entered in an agreement with Pertamina, Exxon­Mobil and Total for the Natuna project,” a PTTEP official told Upstream.

The East Natuna partners are negotiating with the Indonesian government on contract terms for the block, which has estimated in-place gas reserves of 222 trillion cubic feet of gas.

However, the high carbon dioxide content and lack of existing infrastructure means that development plans are still on the drawing board.

The partners are said to be looking for favourable terms to exploit gas from the offshore block given…

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