Pertamina's Steps into Venezuela and Acquisition of Iranian Oil and Gas Block

Pertamina's (Persero) aspirations for expanding oil and gas collaborations in Venezuela and acquiring an Iranian oil and gas block are encountering a series of progressively complex challenges, particularly those associated with the United States embargo and escalating conflicts in the Middle East.

Ibeth Nurbaiti

17 Apr 2024 - 14.26
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Pertamina's Steps into Venezuela and Acquisition of Iranian Oil and Gas Block

Rig Crude Oil.

Bisnis, JAKARTA — The government’s aspirations, facilitated by PT Pertamina (Persero), to solidify its presence in Venezuela and reignite opportunities for oil and gas collaboration with Iran remain shrouded in uncertainty.

Back in 2018, Pertamina was compelled to delay the signing of a contract to oversee the Mansouri Block, an oil and gas field in Iran, due to US sanctions imposed on Iran in connection with the nuclear agreement. Presently, the company confronts the intricate aftermath of Iran’s missile strike on Israel over the weekend.

Similarly, Pertamina remains ensnared in the US embargo, stemming from technical challenges in transporting oil extracted from oil and gas fields in Venezuela, as it fails to meet the specifications required by domestic refinery facilities.

Despite this, Venezuela has extended offers for several promising oil blocks to Indonesia, as highlighted by Director General of Oil and Gas at the Ministry of Energy and Mineral Resources Tutuka Ariadji. 

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.