Indonesia’s Pertamina plans to invest in oil and gas block in Iraq
Pertamina, an Indonesian state-owned oil and natural gas corporation based in Jakarta, revealed on Saturday that it plans to invest in an Iraqi oil and gas block.
Pertamina’s President, Nicke Widyawati, stated that the investment will allow the Indonesian corporation to control an oil and gas block in Iraq and offer services to upstream and commercial industries, according to The Jakarta Post.
Widyawati elaborated that the corporation continues to negotiate the anticipated investment with local authorities in Iraq.
“There is a lot of work to be done,” Widyawati said. “Pertamina’s subsidiaries, Elnusa and Pertamina Drilling Services Indonesia (PDSI), can be invited as service providers to complete the work,” she added.
Last year, Pertamina established its presence in the Middle Eastern country by acquiring 10 percent of ExxonMobil’s share in the West Qurna 1 oilfield in southern Iraq, 5,400 kilometers southeast of the capital Baghdad, bringing its total ownership to 20 percent.
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