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Indonesia's state-owned oil company, Pertamina, is exploring potential investments in Nigeria's upstream oil and gas sector. This comes as Nigeria's upstream petroleum regulatory commission aims to attract more international capital. Pertamina's efforts are part of a broader strategy to seek international expansion due to declining domestic production and a changing nature of discoveries.
Discussions between Pertamina and the Nigerian Upstream Petroleum Regulatory Commission highlighted mutual priorities in energy security, resource utilization, and investment. Nigeria aims to increase production to three million barrels per day by 2030, while Indonesia, currently producing around 600,000 barrels per day, seeks to expand its output.
Pertamina is particularly interested in producing assets and projects nearing final investment decisions, with the company looking to help Nigeria achieve its production targets.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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