Indonesia’s state oil firm Pertamina is teaming up with PetroVietnam to bid for exploration blocks in Iran and Algeria, Bambang Nugroho, Pertamina corporate senior vice president, upstream, said.

“We are looking at cooperation with the PIDC for joint bidding for a block in Iran. In Algeria, we are in the same cooperation for a block as well,” Nugroho told reporters at the annual Asia Oil and Gas Conference.
PIDC is PetroVietnam’s investment arm, PetroVietnam Investment and Development Company.
“The bidding in Iran will be performed sometime in July,” Nugroho said, adding the result for the block in Algeria would be announced at about the same time.
Nugroho gave no other details for the blocks.
In a presentation to conference delagates, he said Pertamina’s overseas upstream assets included Block 3 Western Desert in Iraq, Khoramabad Block and Kuhdahst Block in Iran, Hassim Mouna in Algeria, Block 10/11-1 offshore Vietnam and Block SK-305 offshore Sarawak, Malaysia.
Many state oil companies in Asia are pushing overseas to secure vital oil and gas assets as production in the region declines at a time when strong economic growth has pushed up oil demand.