JAKARTA. PT Pertamina (Persero) plans to acquire a new oil and gas block next year, with a capital of US$ 150 million.
Fajriyah Usman, VP Corporate Communication of Pertamina, said the acquisition was expected to help improve the company's upstream business growth inorganically. "In accordance with Pertamina's growth strategy, mergers and acquisitions are part of that strategy," Usman was quoted as saying by Kontan on Sunday (15/12) yesterday.
In addition, Usman explained that the plan was also a directive from the Government of Indonesia as Pertamina's shareholder. The government hopes through this strategy, oil imports can be reduced and the trade balance deficit can be reduced.
Meanwhile, Nicke Widyawati, Director of Pertamina, admitted that her party was open to the idea of acquiring new oil and gas blocks, both domestically and abroad. Specifically for overseas acquisitions, Pertamina will choose the oil and gas block that has produced oil/gas. (KR/AR)