Pertamina Eyeing Hess' Assets in Indonesia, Thailand

Pertamina is eyeing Hess Corporation’s hydrocarbon assets in Indonesia and Thailand to help boost its output.

Company’s director for investment planning and risk management Afdal Bahaudin said on Wednesday that the assets the company was aiming for included a 75 percent participating interest and operatorship in the Ujung Pangkah block in Gresik, East Java, Jakarta Post reported.

“[Hess’ plan to sell its assets] is an open tender and it may include a plan to sell its assets in Thailand. Pertamina is currently reviewing whether to purchase them,” Bahauddin told the newspaper.

The Ujung Pangkah block currently produces 40 million meters standard cubic feet per day (mmscfd) of natural gas and 7,000 barrels per day (bpd) of oil and condensate.

In March this year, Hess announced it would divest its exploration and production assets in Indonesia and Thailand as well as selling its downstream businesses, including terminals, retail, marketing and trading divisions, Jakarta Post said.