Back From Venezuela, The Minister Of Energy And Mineral Resources Called Targeting Oil Potential 12 Billion Barrels

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has just returned from his visit to Venezuela.

Arifin said, Indonesia is eyeing Venezuela's oil potential, which is known to be 12 billion barrels.

Moreover, he said, the state-owned oil and gas company RI, PT Pertamina (Persero) has acquired Maural et Prom (M&P).

"This Pertamina has taken over its shares, Maurel et Prom and M&P has a field in Venezuela. It was taken from Shell. It has a potential of 12 billion barrels," Arifin told the media crew at the Ministry of Energy and Mineral Resources Building, Friday, February 2.

With the takeover, Arifin said the Indonesian government did not want the field to be used properly.

Arifin explained that the potential oil in Venezuela is located in Lake Maracaibo at 12 billion barrels.

Apart from Venezuela, Indonesia is also known to invest in Algeria and several other fields abroad.

"ENI also came by the boss, we have summarized cooperation with Pertamina to be able to work outside Indonesia," concluded Arifin.

Just so you know, previously the visit of the Minister of Energy and Mineral Resources to Venezuela resulted in an agreement between the two countries in the field of oil and gas (oil and gas).

One of the MoUs between the two countries is the development and application of technology and the best practice to reduce environmental impacts in the energy sector.

With the umbrella of the cooperation agreement, PT Pertamina (Persero), as a BUMN owned by Indonesia in the energy sector, through Pertamina International EP (PIEP) is expected to explore opportunities in acquiring Venezuela's new oil and gas blocks.

It is also to strengthen the existence of PIEP which has invested in Venezuela through the company Maurel et Prom (M&P).