Pertamina Eyes Investments in Guyana and Suriname Oil Fields

Indonesian state energy company Pertamina is considering investments in oil and gas exploration and production in Guyana and Suriname. This move could help Indonesia diversify its energy supplies and strengthen the country's energy security, according to reports by OilPrice.

Pertamina has already begun preliminary discussions on cooperation with local companies, including talks on acquiring minority stakes in production projects in these countries. By owning a stake in a supply source, Pertamina aims to make deliveries from the region more reliable for Indonesia and reduce its dependence on imports from the Middle East.

Indonesia currently produces about 600,000 barrels of crude oil per day but consumes around 1.6 million barrels daily. A significant share of its crude oil imports has traditionally come from the Middle East. However, due to disruptions in the Strait of Hormuz and ongoing tensions with Iran, Indonesia began seeking alternative supply sources.

In Guyana, a consortium led by Exxon is already producing 900,000 barrels of oil per day at the offshore Stabroek block. Suriname is also developing its offshore fields, including the $10.5 billion GranMorgu oil project led by TotalEnergies, which is expected to start production in 2028.