Pertamina unleashed
Back outside Opec again, Indonesia's oil and gas giant will spend heavily
When the upstream subsidiary of Indonesia's Pertamina group took control of French independent Maurel et Prom in early February, it marked the latest stage in the state-owned company's aggressive expansion of its overseas and domestic upstream activities. The acquisition of the 186-year-old, Euronext Paris-listed oil and gas firm gives Pertamina operations in Africa, notably Gabon, Namibia, Nigeria, Tanzania, as well as Myanmar and other parts of Asia, Canada and Italy. With oil and gas reserves of around 205m barrels of oil equivalent, the purchase of Maurel et Prom means that "Pertamina can be more optimistic about developing its upstream business faster," enthuses upstream director Syamsu
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
