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

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

Vice President of Corporate Communication of Pertamina, Fadjar Djoko Santoso, stated that the upstream oil and gas cooperation opportunities exploration in the LAC Region reflects Pertamina's commitment to supporting national energy security.

"Pertamina continues to strengthen national energy security by optimizing domestic upstream oil and gas as well as developing oil and gas projects abroad. To enhance this energy security, Pertamina is open to synergy with various partners," said Fadjar.

Fadjar added that Pertamina applies a dual strategy to maintain national energy security, which involves continuing and strengthening its existing businesses while developing low-carbon ventures.

According to Fadjar, the LAC Region holds significant oil and gas potential, offering Pertamina opportunities to explore cooperation in developing oil and gas working areas.

"Pertamina already has experience managing upstream oil and gas in various countries worldwide, including Venezuela, one of the nations in the LAC Region," Fadjar added.

Fadjar further mentioned that Pertamina will explore cooperation opportunities in Suriname, Guyana, and Brazil, as these regions have considerable oil and gas potential.

Suriname, he noted, has proven crude oil reserves of up to 89 million barrels, with its main oil company being Staatsolie, the state-owned oil company of Suriname. Meanwhile, Guyana is set to become the fourth-largest oil producer in Latin America after the discovery of the Stabroek Block, which holds potential reserves of up to 11 billion barrels of oil equivalent. Additionally, Brazil has liquid oil production reserves lasting up to 21.5 years and natural gas production reserves lasting 28.7 years.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**