In the contract signed in Algiers on Thursday 15 June, the Algerian Government entrusted the management of the oil and gas block to Pertamina for the next 35 years. This extension shows the Algerian Government's confidence in Pertamina's performance.
Director of Pertamina Nicke Widyawati said the oil and gas block in Algeria is one of the mainstay contributors to oil and gas production from abroad for the company.
"The acquisition of oil and gas blocks abroad with the 'ring the barrel home' concept is Pertamina's strategic move to maintain national energy security," said Nicke, quoted Monday, June 19, 2023.
Reducing LPG imports
Nicke added, in the new contract, apart from crude oil production, Pertamina was also given a permit to build an LPG factory with a capacity of one million metric tons per year, whose products would be brought to Indonesia."With this new breakthrough, it is hoped that it can reduce LPG imports and strengthen Indonesia's trade balance," added Nicke.
At the same time, the Algerian oil and gas block also has the potential to develop renewable energy, especially solar PV which will be utilized as a green electricity supply for oil and gas block operations.
"This is a form of Pertamina's very strong commitment to reducing carbon emissions in all of its business activities in line with the application of ESG," said Nicke.
Menzel Ledjmet Nord (MLN) Oil Field Algeria is one of the oil and gas fields in the Sahara Desert, Algeria which has been fully operational by Pertamina since May 2014, through the Upstream subholding.
This block has an oil capacity of 35 thousand barrels of oil per day (BOPD) and has 58 solar panels that produce 1,141 kilowatt hour (kWh) per year, resulting in reduced emissions of up to 7,507 tons of CO2 per year.
Pertamina as a leader in the field of energy transition, is committed to supporting the Net Zero Emissions 2060 target by continuing to encourage programs that have a direct impact on the achievement of the Sustainable Development Goals (SDG's). All of these efforts are in line with the implementation of Environmental, Social & Governance (ESG) in all Pertamina's business lines and operations.
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