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KONTAN.CO.ID – JAKARTA. Pertamina plans to continue its expansion in Africa. Pertamina’s Vice President (VP) Corporate Communication, Fadjar Djoko Santoso, confirmed that Pertamina opens up opportunities for expansion in the black continent. 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). Read also : Pertamina Hulu Rokan Will Execute Unconventional Oil Drilling Soon It is not yet clear what the timeline or budget for this expansion plan is. “We can’t give details yet, because it’s only at the meeting stage,” Fadjar said. Whether related or not, the Coordinating Minister for Maritime Affairs and Investment (Menko Marves), Luhut Binsar Pandjaitan, paid a working visit to the African continent, specifically to the countries of Congo and Kenya on July 11-12, 2023. Pertamina Senior Director Nicke Widyawati accompanied Luhut on the visit. 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), Pertamina’s subsidiary responsible for innovating in the acquisition and management of oil and gas fields abroad and to search for sources of oil and gas in various countries. According to data from August 2021, no less than 76% of petroleum products from abroad attempt to be sent to domestic refineries to support national energy security. Oil’s largest contribution comes from three assets in Algeria, Malaysia and Iraq. Commission VII DPR RI Vice President Eddy Soeparno said efforts to increase oil and gas extraction should not only be conducted within the country. Overseas expansion may be an acceptable option to increase lifting performance. “In order to increase our oil and gas extraction, it is not absolute that domestic development will be done. Lifting increase owned by Pertamina can be done both domestically and abroad as long as the oil share is owned by Pertamina,” Eddy said when contacted by Kontan.co.id (7/23). A similar view was also expressed by Commission VII DPR RI member Mulyanto. Read also : Pertamina CEO: MotoGP Mandalika 2023 boosts regional and national economy “As long as financial conditions are favorable, sound and Pertamina’s oil and gas lifting performance is good, this step is understandable and can bring foreign exchange to the country. In addition, oil is also sent to meet domestic needs,” Muyanto told Kontan.co.id (7/23). a reduction in the extraction of domestic oil and gas.In addition, there are economic aspects and commercial considerations in oil and gas extraction activities. “Because for the production of oil, there are commercial and volume aspects, so it is not only the volume but also the business that will be decisive by far. if the volume can be produced but if it’s not economical, what’s the point of doing it,” Komaidi explained. “It means that it is not easy to increase the volume, for example for those who have long-term contracts or who have been operating for a long time, it is a matter of consideration of the economics of the project. generally, they are more expensive than the fields which are new or which have not yet experienced a phase of decline, ”he added. positive impact as it can boost Pertamina’s domestic needs and secure its needs. However, according to him, potential investment risks also need to be considered. “The thing to be careful about is that exploration is really done in areas that have proven oil and gas reserves, so the investment risk can be removed,” Toto said. Google News Publisher: Herlina Kartika Dewi