Pertamina's offshore oil chase
After two years of belt-tightening, Indonesia's NOC is seeking to plug the country's energy consumption gap
The figures are huge. Pertamina will spend $3.24bn on its upstream business in 2018—a 21% rise from a year earlier. Most of the upstream budget will be invested in domestic fields, notably in the Mahakam block in East Kalimantan, which Pertamina has bought from Total and Inpex, as well as in the Jambaran gasfield after acquiring ExxonMobil's 41.4% stake in 2017. But with its finances in better order, Pertamina is also venturing further offshore. After more than a year of negotiations, the group expects to complete its acquisition of an operating interest in Iran's Mansouri oilfield in May. And in late 2017, the Jakarta-based NOC signed a memorandum of understanding with Algeria's state-owned
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
