JAKARTA -- Indonesian state oil company Pertamina on Friday announced the renewal of a contract for the development of an oil field in Algeria with Algerian and Spanish partners -- which includes an investment plan of more than $800 million.
The new production sharing contract for the development of the Menzel Lejmat Nord block in the Sahara desert was signed by Pertamina's upstream subsidiary Pertamina Internasional EP, Algerian state oil company Sonatrach and Repsol Exploracion 405A, a unit of Spanish energy company Repsol. The signing ceremony was held in Sonatrach's headquarters in Algeria on Thursday.
