State-owned oil and gas giant PT Pertamina says that it plans to expand into Cambodia and Myanmar.

Pertamina marketing and commercial director Ahmad Bambang said the firm wanted to set up two or three gas filling stations in both Asean countries to strengthen its position in the region.

The firm is currently carrying out a feasibility study regarding its expansion plan.

'€œIf the study is completed this year, we are going to make the expansions [this year],'€ Ahmad said as quoted by kompas.com, adding that there was a chance that Pertamina would increase the number of gas stations it planned to build.

'€œWe see a lot of opportunities in Cambodia and Myanmar and the process to get the business permits is easier [than in Indonesia].'€

He predicted that the company would need to spend only US$10 million for two filling stations in each country.

In addition, he said Pertamina would develop fuel storage facilities in Singapore to help supply fuel in the Malacca Strait area.

'€œFuel demand in Malacca Strait is huge at around 40 kiloliters annually. We want to capture 10 percent of the total market share in this zone,'€ he continued.

Currently, the fuel market in the strait is dominated by Singaporean and Malaysian companies. (nfo)(++++)

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