Pertamina's US$2b Murphy deal may herald more buys

[SYDNEY] PT Pertamina's purchase of a stake in Murphy Oil Corp's oil and natural gas assets in Malaysia for US$2 billion may lead to more overseas deals for Indonesia's state-owned energy company as it struggles to bolster domestic reserves.

"This could be the start of further steps overseas," Tony Regan, an energy consultant at Singapore-based Tri-Zen International Inc, said by phone on Wednesday. "The acquisition may be a realisation that they can't rely on their own resources or on importing LNG."

More overseas deals would mirror the progress of fellow state-owned oil company Petroliam Nasional Bhd, or Petronas, of Malaysia, said Mr Regan.