Indonesia's state-owned Pertamina plans to invest US $1.5 Bn raised from global bond issues in Angola, as well as closer to home to develop the Cepu and West Madura plays offshore Indonesia, according to a government official. Enterprises Minister Mustafa Abubakar said the player is in talks to buy ExxonMobil's 25% stake in Block 31 offshore Angola with a bid of around US $3.5 Bn. Block 31 could start production in 2012 at around 150,000 b/d.
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