“Acquiring oil and gas blocks overseas with the concept of ‘bring the barrel home’ is a strategic step for Pertamina to maintain national energy security,” stated Pertamina CEO, Nicke Widyawati, adding, “With this breakthrough, we hope to reduce LPG imports and strengthen Indonesia’s trade balance.”
Boasting an oil capacity of 35,000 barrels of oil per day, the MLN oil and gas block also comprises 58 solar photovoltaic panels, generating 1,141 kWh per year. Solar energy is utilized to support the blocks operations, resulting in an emission reduction of up to 7,507 tons of CO2 per year.
“This is a concrete manifestation of Pertamina’s strong commitment to reducing carbon emissions in all its activities following Environmental, Social and Governance implementation,” Widyawati added.
The agreement serves as an extension of Pertamina’s 2014 contract for the development of the MLN block following the Indonesian company’s acquisition of a participating stake in oil and gas supermajor ConocoPhillips’ Algerian business unit, ConocoPhillips Algeria Ltd., in December 2012.