maaxx.ca

Journalist: Great Philemon | Editor: Handoyo.

KONTAN.CO.ID – JAKARTA. PT Pertamina targets overseas oil and gas field expansion projects.

African countries are one of the targets of Pertamina’s expansion.

Pertamina Chief Commissioner Basuki Tjahaja Purnama aka Ahok revealed that the acquisition plan will always prioritize a number of principles.

“In principle good corporate governance (GCG) and best practices in business,” Ahok told Kontan on Sunday (7/23).

Kontan noted that Pertamina’s Vice President (VP) Corporate Communication, Fadjar Djoko Santoso, confirmed that Pertamina opens up opportunities for expansion in the black continent.

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Kenya is one of the countries considered as a target location in Pertamina’s expansion plan. Just so you know, Pertamina has received an investment request to build a refinery there.

Currently, Pertamina is studying various forms of expansion.

“One of them is the acquisition of oil and gas blocks, and the results can be sent to Indonesia,” Fadjar told Kontan.co.id on Sunday (7/23).

We don’t know what it is calendar as well as the budget foreseen in this intention of expansion.

“We can’t give details yet, because it’s only at the meeting stage,” Fadjar said.

Read also : Pertamina opens up opportunities to acquire new oil and gas fields in Africa

If this is achieved, Pertamina’s expansion program on the African continent will be added to the list of Pertamina’s overseas business portfolio. Quoting the company’s press release, Pertamina already has foreign oil and gas assets spread across 13 countries, namely Algeria, Malaysia, Iraq, Canada, France, Italy, Namibia, Tanzania, Gabon, Nigeria, Colombia, Angola and Venezuela as of August 2021.

These assets are managed by PT Pertamina Internasional EP (PIEP), a subsidiary of Pertamina responsible for innovating in the acquisition and management of oil and gas fields abroad and seeking sources of oil and gas in various countries.

According to August 2021 data, up to 76% of petroleum products from overseas are sent to domestic refineries to support national energy security. Oil’s largest contribution comes from three assets in Algeria, Malaysia and Iraq.

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