"Pertamina signed oil and gas contracts with BP for Bawean block in East Java, Conoco for Nila block in Natuna and several other companies," a Pertamina spokesman said.
The company has also signed oil contracts with Amerada Hess for Tanjung Aru block, TotalFinaElf for Donggala block, Zodan N.V. for Popodi block and Zudavi N.V. for Papalang block.
All of the oil and gas blocks were located in the Makassar Straits and analysts believe they are potentially rich in hydrocarbons.
Pertamina added it has also signed an oil contract with Gulf Canada Resources Ltd for the Sakakemang-Jambi block in Sumatra as well as with Expan for Tarakan Kaltim block, East Kalimantan and Rimau block in South Sumatra
The contracts would fall under Indonesia's old oil law in which Pertamina exercises monopoly control over the country's energy resources. A new law changing that has been ratified by the Indonesian parliament but not yet put in force by the government.
