Indonesia plans to launch initial public offerings (IPOs) for the upstream and geothermal units of state-backed energy company Pertamina next year to fund expansion, a senior government official told parliament on Wednesday.
Indonesian national oil company (NOC) Pertamina is doggedly pursuing US major ExxonMobil to help it develop oil resources at the giant East Natuna field in the disputed waters of the South China Sea. Development of the field faces huge technical, economic and geopolitical challenges, but Pertamina believes a gradual phased development, starting with oil could offer a solution.
