Regarding the acquisition of foreign oil and gas blocks, Pertamina said

Reporter: Ridwan Nanda Mulyana | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. PT Pertamina (Persero) ensures that efforts to mergers and acquisitions (M&A) of oil and gas blocks abroad will continue this year. The acquisition is deemed necessary to increase the source of oil and gas that can be utilized in Indonesia, so that energy security can also increase.

“This is to increase the source of oil and gas that can be brought to Indonesia, thereby increasing resilience source oil and gas, “said Pertamina Corporate Communications Vice President Fajriyah Usman when contacted by Kontan.co.id, Friday (7/8).

Unfortunately, Fajriyah still cannot reveal the details of the plan to acquire the oil and gas blocks abroad. Likewise, we cannot confirm the news about discussions with Occidental Petroleum Corp to acquire a number of oil and gas assets in Africa and the Middle East, with a value of around US $ 4.5 billion.

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What is clear, said Fajriyah, is that Pertamina will continue to conduct exploration. This state-owned oil and gas holding company also hopes that the current conditions will be the right momentum to execute this corporate action.

“That Pertamina is currently conducting an assessment to corporate action. However, the details cannot be conveyed further. Efforts and explorations are still being made. We hope that the time is also right, “explained Fajriyah.

Referring to previous reports, Pertamina is reportedly in discussion with Occidental Petroleum Corp to acquire a number of oil and gas assets in Africa and the Middle East.

Just so you know, currently Pertamina has a number of assets and oil and gas fields abroad. First, in Algeria, which is a block with three fields. Second, in Iraq, which is one block and the West Qurna 1 field.

Third, five blocks in Malaysia, namely Blok K, Blok H, SK309, SK311, and SK314A. Fourth, Pertamina owns 70.75% of shares in a company from France, Maurel & Prom, with management rights over oil and gas blocks in Canada, Italy, Nigeria, Gabon, Tanzania, Namibia, Colombia, Angola and Venezuela.

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