Indonesian firm to acquire oil blocks in Sudan

Feb 14, 2007 (JAKARTA) – Indonesian state-owned oil and gas company PT Pertamina said it hopes to acquire two or three oil blocks already operational in Sudan to increase its oil production this year.

Upstream Director of Pertamina Sukusen Soemarinda said funds are already available for the acquisition, the Indonesian ANTARA reported.

Sukusen said Pertamina has discussed the plan with the Sudanese government and will send a technical team to that country for due diligence studies to select more prospective blocks.

He described the expansion to Sudan as attractive as that country has potential oil reserves.

Oil production from the oil blocks will be shipped to Indonesia to ensure domestic supply.

Pertamina, which has set a target of 69 per cent increase in production this year, is also eyeing oil blocks in Libya and Ecuador.

Last year its crude oil production totaled 101,000 barrels a day.

On the net : http://www.pertamina.com/

(ANTARA/ST)