Petronas offered to explore 10 new O&G blocks in Indonesia

Petroliam Nasional Bhd (Petronas) generic photo. Petronas flag blowing in the wind next to the Malaysian and Federal Territories flags at a Petronas station in Kuala Lumpur, seen in July 2015. (Pic taken by Hafidz Mahpar for Star Online.)

PUTRAJAYA: Petroliam Nasional Bhd (Petronas) has been offered to explore 10 new blocks of oil and gas (O & G) fields in Indonesia, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

He said the invitation involving seven exploration blocks in the Exclusive Economic Zone and three in Natuna Island was made by Indonesia’s Coordinating Minister for Maritime Affairs, Luhut Binsar Panjaitan, in a meeting in Putrajaya on Tuesday.

Speaking in a press conference later, Ahmad Zahid said with the invitation, Petronas had the opportunity to participate in the open tender by Pertamina, Indonesia’s state-owned oil company, for the exploration of new blocks in other locations.

“This is a good offer as Petronas is basically focusing on exploration in the Asean countries,” he said.

Ahmad Zahid said the meeting also opened a new chapter for Tenaga Nasional Bhd (TNB) as the utility company had now been allowed to negotiate directly with coal suppliers in Indonesia to ensure a continuous supply of high-quality coal.

He said the two countries also agreed that the cooperation between TNB and Perusahaan Listrik Negara (PLN) Indonesia was done on a business to business deal.

Indonesia had also given its assurance that it would commit to a long-term cooperation between TNB and coal companies in the republic, he added.

Towards this end, he said a technical committee involving TNB, PLN and industry players in Indonesia would be set up.

In another development, Ahmad Zahid said Indonesia reiterated its commitment to address the haze issue and overcome it holistically in three years. - Bernama
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Rising raw material, freight costs hurt Daibochi earnings �
Car chip shortage clouds KESM outlook after strong Q2
FBM KLCI closes at highest in nearly 2 months
CIMB Investment Bank named Malaysia Bond House of the Year
Vodafone seeks to raise up to 2.8bil euros from Towers IPO
Sultan Nazrin: Islamic capital market proved resilient during pandemic
Worst-performing Asia stock index turns winner on value love
Top Glove posts highest quarterly net profit in corporate history at RM2.9bil
Flexidynamic to raise RM15m from IPO
Serba Dinamik secures RM408.8m contracts in India and Indonesia

Stories You'll Enjoy