Pertamina Says May Double Output from Overseas Assets by End-2014


JAKARTA, Nov 18 (Reuters) - Indonesia's Pertamina expects its overseas assets to contribute between 90,000 and 120,000 barrels of oil equivalent per day (BOEPD) by the end of 2014, the company said on Tuesday, up from around 63,000 barrels per day of crude last year.

The expected increase comes as the state energy firm moves aggresively to acquire oil and gas assets to meet the ballooning energy demands in Southeast Asia's largest economy.

"We expect an increase this year because we will complete the acquisition of the Murphy Oil block this month or in mid-December," Pertamina Upstream Business Development chief Danie Tampubolon told reporters, referring to Malaysian assets held by U.S.-listed Murphy Oil Corp that are expected to also produce gas.

(Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by Alan Raybould)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Accountant - Intercompany
Expertise: Accounting
Location: Alpharetta, GA
Cost Accountant
Expertise: Accounting
Location: Ville Platte, LA
Margin Optimization Analyst
Expertise: Accounting|IT - SAP / ERP|Refinery Specialist
Location: Dallas, TX
search for more jobs

Brent Crude Oil : $50.2/BBL 3.29%
Light Crude Oil : $47.89/BBL 3.34%
Natural Gas : $2.94/MMBtu 1.37%
Updated in last 24 hours