Pertamina to Invest in Iraqi Oil Fields?

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Indonesia’s state-owned oil company Pertamina wants to buy stakes in at least two Iraqi oilfields, according to a report from Bloomberg.
During meetings between Iraqi and Indonesian government officials in Jakarta, company President and CEO Karen Agustiawan (pictured) told reporters the company may acquire a 10 percent share in an area that produces 2.5 million barrels a day, and in another that pumps 1.8 million barrels.
“If we can have 10 percent shares in each field, we could supply 180,000 barrels and 250,000 barrels for Indonesia’s energy security,” Agustiawan said. The company still needs to negotiate with the operators of the fields and obtain approval from the Iraqi government, she said.
Iraq Business News, however, casts doubt on this assertion, as the stated output of the two fields is more than Iraq’s total production.
Pertamina also plans to resume operations in the Block-3 Western Desert acreage, Agustiawan said. The company obtained rights to the field, which is in an exploration stage, in 2002, it said in a statement.
(Source: Bloomberg)