http://www.atimes.com/article/indonesia ... nning-dry/Nearly half a century after it was founded, state-owned petroleum company Pertamina will soon face its biggest ever challenge when it takes sole operational control of the Mahakham, Indonesia’s biggest producing natural gas block situated off the east coast of Borneo.
French oil giant Total E&P, which has run the East Kalimantan concession since 1974, will pull out on December 31 after failing to come to terms with the government on a five-year transitional period under which it and Japanese partner Inpex would have retained a 30% participating interest.
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Indonesia's petroleum industry is getting state attention due to the weak revenues in the sector.
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