Pertamina eyes new deals in Iran, Algeria

Indonesia’s state-owned enterprise Pertamina is eying a new purchasing deal in 2017 for Iranian LPG, company officials said on Tuesday. Imports are expected to reach 528,000 tonnes in the upcoming year.

“It is highly likely Pertamina will import again from the National Iranian Oil Company [NIOC],” spokeswoman Wianda Pusponegoro told Reuters. In addition, the company plans to import as many as 12 cargoes of 44,000 tonnes of gas each. Pertamina also aims to buy stakes in two oil and gas blocks in Iran, a deal it hopes to ink in 2017. “Our target is for at least 30,000 barrels of oil equivalent per day,” Pusponegoro also said.

In related news, Ahmad Bambag, deputy chief executive of Pertamina, stated that the company is considering to acquire Spanish energy company Repsol’s participating interest in the Algerian Menzel Lejmat oilfield. Pertamina, currently holding a 65% interest, plans to pick up the Spanish major’s 35% share in the field.

“In the short term we want to strengthen our position in Algeria with a purchase from Repsol, but this is still being discussed”, Bambag said of the plans.