TEMPO.CO, Jakarta - Indonesian Deputy Minister of Foreign Affairs Arif Havas Oegroseno revealed that Pertamina's Venezuelan assets, which have now resumed full operations, support Indonesia's efforts to optimize alternative oil sources amid energy turmoil.
"We have just received permission to resume operations in Venezuela," said Deputy Foreign Minister Havas after a working meeting with House of Representatives Commission I at the Senayan Parliament Complex in Jakarta on Thursday.
He confirmed that, amid tensions between the United States, Israel, and Iran in the Strait of Hormuz, Indonesia is currently trying to explore new oil sources from several other countries in South America.
"We are looking for more countries that have oil and gas potential. Almost all countries in Latin America have this potential," said the Deputy Minister of Foreign Affairs.
He said that with South America's vast potential in the oil and gas sector, Indonesia is seeking investment opportunities in this sector in countries in the region.
Havas has explained that Pertamina is already in negotiations with partners in several South American countries. However, they are in the early stages because they are still in the exploratory phase.
He also confirmed that Indonesia's interests in oil and gas expansion in South America would be represented by Pertamina International Exploration and Production (PIEP), which currently controls assets in Venezuela.
Furthermore, Havas said that Indonesia is also optimizing alternative oil sources in several African countries, such as Algeria, Nigeria, and Angola. He explained that Indonesia's current strategy is to source oil from regions that do not require passage through the now-closed Strait of Hormuz.
It is known that PIEP controls 71.09 percent of the shares of the French oil and gas company, Maurel & Prom (M&P), which has assets in Venezuela. PIEP insists that its oil assets in Venezuela were not affected following the U.S. invasion of the country in January, in which President Nicolas Maduro was arrested and taken to the U.S.
The company also stated that it continues to monitor closely and maintain ongoing coordination with the Indonesian Embassy in Caracas as a precautionary measure.
Read: Indonesia Turns to African Oil as Energy Challenges Mount
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