Go Global, Pertamina Explores Upstream Oil and Gas Cooperation Opportunities in Latin America and the Caribbean

The following is a machine translation of a PT Pertamina (Persero) release

Peru, 13 September 2024 – PT Pertamina (Persero) continues to explore opportunities for cooperation in upstream oil and gas development in Latin American and Caribbean countries, commonly known as the LAC Region. 

Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, said that exploring opportunities for upstream oil and gas cooperation in the LAC area is Pertamina's commitment to supporting national energy security.

"Pertamina continues to strengthen national energy security both by optimizing domestic upstream oil and gas and developing oil and gas abroad. To strengthen this energy security, Pertamina opens synergies with various parties," said Fadjar. 

Pertamina, added Fadjar, is implementing a dual strategy in maintaining national energy security, namely continuing and strengthening existing businesses and simultaneously developing low-carbon businesses.

According to Fadjar, the LAC area has quite large oil and gas potential and there are opportunities for Pertamina to explore cooperation in developing oil and gas work areas.

"Pertamina has experience in managing upstream oil and gas in various countries in the world, including Venezuela, which is one of the countries in the LAC Region," added Fadjar.

Fadjar added that Pertamina will focus on exploring cooperation opportunities in Suriname, Guyana and Brazil because they are regions with quite large oil and gas potential.

Suriname, he added, has proven crude oil reserves of up to 89 million barrels with its main company being Staatsolie, the state oil company of Suriname. Meanwhile, Guyana will become the fourth largest oil producing country in Latin America after the discovery of the Stabroek block with potential reserves of up to 11 billion barrels of oil equivalent. Meanwhile, Brazil has liquid oil production reserves of up to 21.5 years and gas production reserves of 28.7 years.

Pertamina as a leading company in the energy transition sector, is committed to supporting the Net Zero Emission 2060 target by continuing to encourage programs that have a direct impact on achieving the Sustainable Development Goals (SDGs). All of these efforts are in line with the implementation of Environmental, Social & Governance (ESG) across all of Pertamina's business lines and operations.