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Hoping for a Golden Share

Wednesday, May 11, 2011

The East Java provincial government asked for a stake in West Madura oil block, reportedly in a joint venture with the Bakrie Group.

. tempo : 173227525595.

THE brouhaha over control of the West Madura oil block is reported not only in Jakarta. In Surabaya, East Java Governor Soekarwo demanded on Wednesday last week that 49 percent—a golden share—of the block north of the Madura Strait be allotted the local government. Soekarwo threatened he would ban any oil company operating in the area unless his demand is met. “I can assure you that no one can operate in the area unless we get that share,�

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