Pertamina, an Indonesian energy company, is evaluating the acquisition of an oil and gas asset in Oman as it has been seeking to boost production at home and overseas
The state-owned Pertamina is in negotiations with Omani officials for the takeover and is expecting to seal an agreement by end of 2013, Jakarta Post reported.
Karen Agustiawan, Pertamina’s chief executive, said, "Pertamina is actively pursuing overseas acquisitions to help secure future energy supply as the country is struggling to boost crude oil production amid rapid rise in consumption."
The Wall Street Journal reported Agustiawan as saying, "We‘d like to buy only assets that are already in post-exploration development and production stages."
With a current output of 200,000 bpd, Pertamina is the second-largest crude oil producer in Indonesia.
The Indonesian firm recently raised US$3.25bn through a US dollar-denominated bond sale as part of its strategy to finance merger and acquisition plans.
