Pertamina, ConocoPhillips Sign US$2.6 Bn Deal

VIVAnews - Ministry of Energy and Mineral Resources said state oil and gas company PT Pertamina and ConocoPhillips are teaming up in gas production at Suban Field, South Sumatra.

The Suban field is expected to contribute to the government and Pertamina by US$2.6 billion.

"The estimate applies until 2023," said Minister of Energy and Mineral Resources, Jero Wacik, today.

As of 2002, ConocoPhillips has worked on the Suban Field, which later was extended to the area operated by Pertamina's subsidiary, Pertamina EP.

The project is figured to help increase Pertamina EP's gas production by 13 thousand barrels of oil equivalent per day (boepd).