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



Reuters

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)



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