Pertamina Earmarks $1 Billion for Energy Acquisitions
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PT Pertamina, Indonesia’s state energy company, has allocated $1 billion for acquiring overseas and domestic oil and gas blocks this year to help increase output to meet demand in Southeast Asia’s biggest economy.
Pertamina is in talks with several domestic energy companies and has listed 20 overseas oil and gas assets as potential targets, Investment Planning Director Ferederick Siahaan told reporters at a conference in Jakarta today.