Pertamina Internasional EP Holds 20 Percent Of ExxonMobil's Shares In Iraq

Illustration (Photo: Doc. Antara)

JAKARTA - PT Pertamina Internasional EP (PIEP) through its direct subsidiary, namely PT Pertamina Iraq EP, has purchased 10 percent Participating Interest (PI) from ExxonMobil Iraq Limited (EMIL).

The field operated by EMIL as the Lead Contractor is in the southern part of Iraq, close to the city of Basra which is 400 km southeast of the capital Baghdad.

PIEP Main Director John Anis said, through this action, PIEP has the rights to 20 percent of PI in EMIL.

Pertamina as a partner that has good performance, is reliable, and continues to grow to carry out active cooperation with all partners, especially EMIL in supporting its work program to develop WQ-1.

"PIEP can ensure that this acquisition can provide additional production to Pertamina's Upstream Subholding, which is 100,000 BOPD and it is hoped that this production can continue to increase in accordance with the potential of the West Qurna 1 field," he continued.

He added, since obtaining cooperation contracts in several countries, PIEP has carried out its commitment as a partner who has added value in various aspects of operations and always prioritizes active collaboration with various partners in all of its operations.

In its operations in West Qurna 1, PIREP as a direct subsidiary of PIEP partners very harmoniously with EMIL, ITOCHU, Petrochina, and Oil Exploration Company (OEC) Iraq.

This is proven by the completion of the 10 percent PI purchase at the end of 2022.

On the same occasion, the Main Director of Pertamina Hulu Energi, Wiko Migantoro, expressed his gratitude to all stakeholders who have helped.

"All the main stakeholders in Iraq continue to place their trust in Pertamina to continue its existence as an important partner in the management of the West Qurna 1 operating field," said Wiko.