Pertamina Increases Stake in Iraq's West Qurna 1 Block

By Editorial Team 13/02/2023
Oil rig
Summary

PT Pertamina, through its subsidiary PT Pertamina Iraq Exploration Production (PIREP), has increased a participating interest (PI) in the West Qurna 1 (WQ-1) Block in Iraq, touted as one of the giant fields in the world by ten to 20 percent. PT Pertamina Hulu Energi president director Wiko Migantoro revealed that the purchase had already been completed late last year. "We have succeeded in adding ten percent," he said on Friday.

John Anis, president director of PIREP's parent company PT Pertamina Internasional EP, specified that Pertamina bought the extra ten percent from ExxonMobil Iraq Limited (EMIL). "[We] had to work hard. [We] negotiated for almost two years," he claimed.

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