JAKARTA - PT Pertamina (Persero) received an extension of the concession contract in the management of Blok Menzel Ledjmet Nord (MLN) in Algeria.
In a contract signed at Algiers on Thursday, June 15, the Algerian Government entrusted the management of the oil and gas block to Pertamina for the next 35 years.
President Director of PT Pertamina (Persero) 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 concept of bringing the barrel home is Pertamina's strategic step to maintain national energy security," said Nicke, quoted on Monday, June 19.
Nicke added, in this new contract, in addition to crude oil production, Pertamina is also given permission to build an LPG factory with a capacity of 1 million metric tons per year, where its products will 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, this Algeria oil and gas block also has potential in developing renewable energy, especially Solar PV which will be used as a green electricity supply for oil and gas block operations.
"This is a very strong form of Pertamina's commitment to reducing carbon emissions in all business activities in line with the implementation of ESG," said Nicke.
For information, 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 PT Pertamina (Persero) since May 2014 via Hulu subholding.
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This block has an oil capacity of 35,000 barrels of oil per day (BOPD) and has 58 solar panels that produce 1,141 kilowatt hour (kWh) per year, which has an impact on reducing emissions by 7,507 tons of CO2 per year.
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