Pertamina Eyes International Drive With Bid For ExxonMobil's Offshore Stake

Pertamina has emerged as the surprising top bidder for Exxon's stake in Block 31 offshore Angola. The move could herald a new international focus for Pertamina, as the reality of terminal production decline in Indonesia sets in. Pertamina would be joining a crowded field of Asian NOC competitors looking for oil and gas assets abroad, but its deep-pockets and offshore expertise should give it an edge in this race.

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