Related Articles
Forward article link
Share PDF with colleagues

Pertamina's offshore oil chase

After two years of belt-tightening, Indonesia's NOC is seeking to plug the country's energy consumption gap

The figures are huge. Pertamina will spend $3.24bn on its upstream business in 2018—a 21% rise from a year earlier. Most of the upstream budget will be invested in domestic fields, notably in the Mahakam block in East Kalimantan, which Pertamina has bought from Total and Inpex, as well as in the Jambaran gasfield after acquiring ExxonMobil's 41.4% stake in 2017. But with its finances in better order, Pertamina is also venturing further offshore. After more than a year of negotiations, the group expects to complete its acquisition of an operating interest in Iran's Mansouri oilfield in May. And in late 2017, the Jakarta-based NOC signed a memorandum of understanding with Algeria's state-owne



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
BP and Singapore’s Pavilion ink LNG supply deal
11 June 2021
BP and a Temasek subsidiary sign a long-term LNG supply deal with a full-cycle emissions ambition
Stronger finances deliver Trafigura trading windfall
10 June 2021
The Singapore-headquartered trader is able to do more, and boost profit, due to enhanced access to credit
US downstream faces emissions scrutiny
10 June 2021
Biden’s low-carbon pledge could mean tighter regulations and punishment for serial emitters
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video