Pertamina on lookout for blocks in Asia for acquisition

By Godang Sitompul

PT Pertamina Hulu Energi (PHE), a subsidiary of state oil and gas company PT Pertamina, is looking to acquire oil and gas blocks in Asian region to expand its oil and gas acreage, company President Director Salis Aprilian said.

The turmoil in Middle East has prompted the company to shift its target to this region.

Early, the company was eager to acquire blocks and invest in Iraq. However, the downfall of Saddam Hussein regime forced the company to put the plan on hold .

"We are now on lookout (to acquire blocks) in Asian region given positive investment climate in this part of the world," he said.

"As for investing in Iraq, the company has yet to make a decision whether to go ahead investing in Iraq or not. We still wait and see," said Salis Aprilian.

Salis said Pertamina so far has teamed up with Petronas of Malaysia, Petro Vietnam and PTTEP of Thailand in developing a number of blocks.

Pertamina is determined to expand its wing in this region, he said.

Editing by Roffie Kurniawan