Indonesia's state oil and gas firm PT Pertamina has signed deals on oil and gas exploration in two Libyan blocs, the company has said.

The two blocs have estimated reserves of 3.5 trillion cubic feet of gas and 475 million barrels of oil, the company said in a statement obtained by Xinhua Tuesday.

The deals was signed in Tripoli on Dec. 8 by Pertamina's vice president Mustiko Saleh and National Oil Corporation (NOC)'s chairman Abdullah Al Badri, representing the Libyan government, it said.

Under the contracts, Pertamina is committed to spend total 49.1 million US dollars for seismic test and initial drilling for the first five years beginning in February 2006.

The blocs include the Sirte block in the Sahara desert, located some 400 km southeast of Tripoli, and another two wells in the offshore Sabratah block, some 100 km north of the capital, measuring 1,979 square kilometers and 1,692 square kilometers, respectively.

The revenue split for Pertamina is 11.7 percent in the Sabratah bloc and 8.8 percent in the Sirte bloc, it said.

Source: Xinhua