Pertamina eyes energy sector cooperation with L America, Caribbean

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Jakarta (ANTARA) - State-run oil and gas company PT Pertamina is exploring opportunities for upstream oil and gas development cooperation with Latin American and Caribbean countries. Pertamina's corporate communication vice president Fadjar Djoko Santoso said that this is part of Pertamina's commitment to support national energy security.

"Pertamina continues to bolster energy security, both through domestic upstream oil and gas optimization and oil and gas development abroad," he added in a written statement released by Pertamina here on Friday.

According to him, Latin America and the Caribbean's oil and gas potential is notably large, and there are opportunities for Pertamina to explore cooperation in developing oil and gas work areas.

He added that the state-owned company will focus on exploring cooperation opportunities in Suriname, Guyana, and Brazil as they have a significantly large oil and gas potential.

Suriname, for example, has proven crude oil reserves of up to 89 million barrels.

Guyana, he said, is set to become the fourth-largest oil producer in Latin America after the discovery of the Stabroek Block with potential reserves of 11 billion oil-equivalent barrels.

Meanwhile, Brazil's liquid oil production reserves can last up to 21.5 years, and gas production reserves 28.7 years.

"Pertamina has experience of managing upstream oil and gas in several countries, including in Venezuela, which is one of the countries in Latin America-Caribbean," he highlighted.

Since 2018, Pertamina Internasional EP (PIEP), through its subsidiary Maurel & Prom (M&P), has had investments in Venezuelan state-owned oil and gas company Petroleos de Venezuela SA.

The Indonesian and Venezuelan governments agreed to increase cooperation in the energy sector through the signing of a memorandum of understanding (MoU) earlier this year.

The agreement covers various aspects of cooperation, such as upstream oil and gas businesses, oil production increase, technology development, and best practices in the field of energy.

Related news: Pertamina partners with Vale Indonesia for sustainable fuel solution Related news: Pertamina, Guma Africa Group collaborate on potential oil-gas projects

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