Muscat - PT Pertamina is evaluating the acquisition of an oil and gas asset in Oman, as the Indonesian energy firm seeks to boost production at home and overseas, according to media reports.
Jakarta Post reported on Friday that state-owned Pertamina is in negotiations with Omani officials for the takeover of an oil and gas asset, expecting to seal an agreement by year's end.
Pertamina chief executive Karen Agustiawan revealed the plan in her speech last week before attendees of the 37th Indonesian Petroleum Association (IPA) conference - including visiting Oman Oil and Gas Minister H E Mohammed Hamad al Rumhi.
According to a Wall Street Journal report, Karen said that Pertamina is actively pursuing overseas acquisitions to help secure future energy supply, as the country struggles to boost crude oil production amid a rapid rise in consumption.
The Wall Street Journal quoted Karen as saying, "But we'd like to buy only assets that are already in [post-exploration] development and production stages."
Karen did not, however, elaborate. "I am not allowed to disclose details before we sign the SPA [share-purchase agreement]," she told reporters on the sidelines of the conference on Thursday.
With a current output of 200,000 barrels per day, Pertamina is the second-largest crude oil producer in Indonesia and has been campaigning to buy producing oil and gas blocks overseas to boost its output.
Last week, Pertamina raised US$3.25bn through a US dollar-denominated bond sale as part of its strategy to finance merger and acquisition plans.
According to the reports, Pertamina's previous attempts at buying oil-and-gas assets abroad, however, weren't successful.
© Muscat Daily 2013
