Pertamina Expands Overseas Assets, Tightens Petronas Partnership

PT Pertamina's subsidiary, PT Pertamina Malaysia Eksplorasi Produksi (PMEP), clinched the SK510 exploration block in the Malaysia Bid Round (MBR) 2023, orchestrated by Malaysia Petroleum Management (MPM) Petronas. The contract was inked on Jan 23. Danar Dojoadhi, Pertamina Hulu Energi (PHE) Director of Strategic Planning and Business Development, emphasized that the SK510 Block management will bolster the company's footprint in Malaysia as it strives to achieve overseas exploration targets. "In our pursuit of targets through exploration assets abroad," he stated on Jan 24.

The participating interest (PI) holders for SK510 Block include Petronas Carigali Sdn Bhd (40 percent), PMEP and INPEX Malaysia E&P SK510 Sdn Bhd each with 25 percent, and Petroleum Sarawak Exploration & Production Sdn Bhd with 10 percent. Datuk Ir. Bacho, MPM Petronas Senior Vice President, highlighted the longstanding relationship with Pertamina, dating back even before the inception of Petronas 50 years ago. "I hope this collaborative effort maximizes the untapped potential in these blocks to support the energy transition by building a more sustainable upstream industry," he said.