Now that Indonesia’s state-owned oil and gas company PT Pertamina has closed its deal to acquire ConocoPhillips’ assets in Algeria, the company is seeing a significant boost in production. The company reported that through the acquisition of producing assets, both domestically and internationally, additional output totals about 25,900 bpd.
The majority of the increase in production will come from Algerian Block 405a, 23,000 bpd of the increase. Pertamina corporate communication VP Ali Mundakir said the additional output from Block 405a had been realized because it was taken with effect from the date the share-purchase agreement was signed in 2012. The two firms just recently completed the deal officially.