TEMPO.CO, Jakarta - State company Pertamina has officially partnered with Sonatrach for the management of oil and gas blocks in Algeria. Through this partnership, Sonatrach—Algeria's state oil and gas company, gave Pertamina the managing right to its oil and gas blocks with a total roduction capacity of up to 30,000 barrels per day.
The agreement was signed by Pertamina president director Elia Massa Manik and Sonatrach CEO Abdelmoumen Ould Kaddour on Thursday, December 21.
Read: Pertamina Commences Drilling at Mahakam Block
"This agreement shows that Pertamina is serious in expanding our upstream business operations overseas, to increase national oil and gas reserves and production," Manik said in a written statement Tempo received on Friday, December 22.
Read: Pertamina to Operate Mahakam Block Even without Total
Pertamina already has three fields in Algeria managed by Pertamina International EP (PIEP). The subsidiary has 65 percent management rights in Menzel Lejmat North (MLN) field, 16.9 percent in EMK field, and 3.73 percent in Ourhoud field.
Manik said Pertamina is also preparing to develop the three fields. Pertamina will finalize the agreement and the settlement commercial terms before submitting its Plan of Development to the Algerian oil and gas authority.
