PT Pertamina Hulu Energi (PHE) has entered into a collaboration with the Italian oil and gas company ENI and Malaysia’s Petronas to explore the potential of oil and gas blocks in Africa and South America.
Muharram Jaya Panguriseng, PHE’s Director of Exploration, said that they are currently evaluating several oil blocks in those regions. “The evaluation is underway, and hopefully, we will identify candidates that match our trace hold to pursue big fish,” Muharram told a media gathering in Mandalika, Mataram, West Nusa Tenggara on Tuesday, February 6, 2024.
Muharram mentioned that at present, they cannot confirm Pertamina’s position in this collaboration, whether as an operator or just a participating interest (PI) holder. Regarding the plan to expand the oil and gas asset portfolio abroad, Pertamina is considering options like acquiring participating interest or forming a new joint venture with partners.
“There are various options, including acquiring existing blocks where we take PI, and there are also new blocks in Malaysia where we enter jointly with our partners,” Muharram said.
Recently, through PT Pertamina Malaysia Eksplorasi Produksi (PMEP) and its partners, Pertamina won the bidding for the exploration of the SK510 block through the Malaysia Bid Round (MBR) on January 23, 2024. MBR is an annual bidding activity organized by Malaysia Petroleum Management (MPM) Petronas, the agency responsible for oil and gas resources in Malaysia. The PI holders in the SK510 oil block include Petronas Carigali Sdn. Bhd., acting as the operator with a 40 percent PI, PMEP and INPEX Malaysia E&P SK510 Sdn. Bhd. each holding a 25 percent PI, and Petroleum Sarawak Exploration & Production Sdn. Bhd. holding the remaining 10 percent PI.
