Eric Watkins
Senior Correspondent
LOS ANGELES, Jan. 19 -- Indonesia's PT Pertamina has asked the government to return its 50% stake in the Natuna D-Alpha Block following the termination of ExxonMobil Corp.'s contract.
Pertamina Pres. Ari H. Soemarno said the company wants the 50% stake it originally had in 1980 before it sold a 26% share to Mobil Oil Corp., which later became ExxonMobil.
ExxonMobil eventually became a 76% shareholder in the Natuna Block, with Pertamina holding 24%. The Indonesian government terminated ExxonMobil's contract in early January, saying the firm failed to meet its obligations.
Contact Eric Watkins at [email protected].
