Too Little for Total
French oil & gas company Total E&P, who’s been the operator of East Kalimantan’s Mahakam Block for decades, have decided not to acquire the Block’s Participating Interest. After the expiry of their contract in 2017, the Mahakam Block was handed over to state-owned PT Pertamina. The Government, however, asked Pertamina to make available 30 percent Participating Interest for Total to acquire. The problem is that Total thinks 30 percent as too little a share given what they’ve invested in the Block all this time.
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