Total Talks Assets Swap With Pertamina for Mahakam Interest

Total is in discussions with Pertamina on a possible asset swap in return for a continuing participating interest in Mahakam block, Indonesia’s top gas producing field, an official at the French oil major said on Tuesday, reported Reuters.

“We are open to swapping one of our overseas assets with Pertamina,” Total Indonesie President and General Manager Hardy Pramono told reporters, referring to Total's operations in Indonesia, Canada and Africa.

The asset swap was suggested by the Indonesian government to leverage a partnership between the two firms, Reuters said.

Pertamina is set to take over operatorship of the Mahakam block from Total in 2018.