Pertamina Confirms Venezuelan Assets Remain Safe Amid Heightened Tensions

Background on Venezuelan Operations

PT Pertamina Internasional Eksplorasi dan Produksi (PIEP), a subsidiary of Indonesia's state-owned energy giant Pertamina, has confirmed that its Venezuelan assets remain operational and unaffected by recent geopolitical developments ¹

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Source 2

https://finance.detik.com/energi/d-8292663/trump-tangkap-maduro-dibawa-ke-as-pertamina-buka-suara-soal-aset-di-venezuela

. PIEP holds a 71.09% majority stake in French-listed oil services company Maurel & Prom (M&P), which manages various international oil projects including in Venezuela ¹

Source 1

https://industri.kontan.co.id/news/situasi-geopolitik-memanas-pertamina-klaim-aset-migas-di-venezuela-tak-terdampak

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Specific Venezuelan Assets

The company's Venezuelan operations are centered around the Urdaneta Oeste oil field located in Lake Maracaibo, where M&P holds a 40% operating stake ²

. Despite recent dramatic developments in Venezuela's political landscape, including reports of military action and the detention of Venezuelan President Nicolas Maduro, Pertamina's operations appear to be continuing without disruption ²

Source 2

https://finance.detik.com/energi/d-8292663/trump-tangkap-maduro-dibawa-ke-as-pertamina-buka-suara-soal-aset-di-venezuela

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Corporate Response and Risk Management

PIEP's management has emphasized their commitment to maintaining operational continuity while prioritizing the safety of their personnel. The company is actively monitoring the evolving situation through multiple channels, including close coordination with the Indonesian Embassy in Caracas ²

. This dual approach of risk monitoring and diplomatic coordination demonstrates the company's comprehensive risk management strategy in complex geopolitical environments.

Market Implications

While the current situation has not directly impacted Pertamina's Venezuelan assets, the company's exposure to geopolitical risk remains a significant factor for investors to consider. The strategic importance of the Urdaneta Oeste field in Pertamina's international portfolio adds another layer of complexity to the company's risk management considerations.