REPUBLIKA.CO.ID, JAKARTA – Pertamina has a keen interest to acquire foreign oil and gas blocks in Algeria of North Africa. The Vice President Corporate Communication of Pertamina, Ali Mudakir, said the plan was being evaluated.

Yet, Pertamina does not rush even though Algeria is a potential country. "Every country has its own term and condition," Mudakir said.

The scheme for the acquisition is business to business. He said the final decision would be made before the end of 2012. The funds needed for the acquisition of Algerian oil, in around 40 trillion IDR, will come from the investment of Pertamina Upstream.

Earlier, Pertamina eyes on two giant oil fields in Iraq, Block 3 Western Dessert and Tuba Field, which are targeted to operate in 2013. Pertamina Lubricants also expand its marketing to Vietnam, as well as China and Australia, through automotive and industrial segments. The company said that Vietnam with a population of 80 million was a potential captive market due to the shift on its economic system.

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