Pertamina Looking at 8 Oil, Gas Blocks Overseas

State-run oil and gas firm PT Pertamina Hulu Energi announced that the company is targeting eight new oil & gas blocks overseas.  Pertamina Hulu currently owns seven oil & gas blocks overseas in partnership with foreign oil companies. 

“Indeed, we have eight targets, including the oil & gas blocks in the Middle East, Thailand, Myanmar and Vietnam,” said President Director of Pertamina Hulu Energi, Salis Aprilian on Thursday. 

He said the Block SK-305 in Malaysia has only produced oil & natural gas.  The block is owned by Pertamina Hulu, PVEP (Vietnam), and Petronas Carigali, in which Petronas acts as the operator. 

“The production in Malaysia is mainly gas. We are currently negotiating the gas price,” he said. 

Meanwhile, for the Block 10 and Block 11.1 in Vietnam, Salis said the production has declined from 6,000 barrels per day to 2,000 barrels per day. The gas production reaches 200 mmscfd. 

Salis added that Block BMG in Australia only produces 100 barrels of oil per day. This causes Block BMG’s production to be inefficient. Pertamina Hulu, with 10% of shares, considers transfer of its shares to other assets. 

Meanwhile, Block 17-3 and Block 123-3 in Libya and Block 3-WD in Iraq are still being suspended because the governments of both countries have yet to give any permission. At the moment, Pertamina has only representative offices in Libya and Iraq. “We haven’t received the green light from the governments there. But we have informed them that the areas belong to Pertamina,” said Salis. 

Just like Libya and Iraq, Block 13 in Sudan is also being suspended because of the recent conflicts.  “However, we have gained access to the area because it is located in North Sudan,” he said. 

Source: VIVEnews