Indonesia's national oil and gas company, PT Pertamina, is planning to buy mostly overseas oil and gas blocks in order to meet its target of 2.2 million barrels of oil equivalent per day (boepd) in 2025.
Pertamina will acquire mainly oil and gas blocks that are producing or at the development stage, as well as assets that have significant oil reserves. The company also said that 70% of its oil and gas acquisitions would be of overseas assets, which were expected to provide 600,000 bpd of the total output target. Pertamina did not specify the countries where it is looking for assets.
Pertamina's current oil and gas output is 465,220 boepd.