Indonesia wants to boost energy investments to meet growing domestic demand, while remaining a leading natural gas exporter.
State-owned Pertamina will spend $1 billion for acquisitions, preferably in Asia and Africa. Pertamina also wants to buy several domestic blocks to raise production to 1 million boepd by 2015 from today’s 420,000 boepd.
Pertamina is not the only one showing interest in domestic hydrocarbons. Mitsubishi Corp. has a joint venture with Korea Gas Corp. (Kogas), the world’s largest buyer of natural gas, to set up Sulawesi LNG Development, which would be the largest stakeholder in Donggi-Senoro LNG. Donggi-Senoro plans to develop a $2.8 billion LNG terminal in partnership with Pertamina and Medco LNG Indonesia.