Pertamina to bid for oil fields in Egypt

Pertamina to bid for oil fields in Egypt

JAKARTA: The state-owned oil and gas firm Pertamina said on Monday it would take part in a tender for oil and gas fields in Egypt in April as part of its expansion program.

Pertamina upstream director Iin Arifin Takhyan said the company was interested in bidding for two oil fields in the Nile river area and in the Western desert of Egypt.

"The fields are quite prospective for exploration. We are still studying their economic scales," he told reporters after a seminar on the relationship between the mining industry and regional administrations.

Pertamina has expanded its oil exploration and exploitation activities overseas, and has moved into Vietnam, Malaysia, and countries in the Middle East with the eventual aim of becoming a leading world energy company. --JP