Pertamina, Petronas sign cooperation on oil and gas development

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JAKARTA (RAMBUENERGY.com) – Petronas E & P Overseas Ventures Sdn. Bhd on Tuesday (Aug. 23) signed Memorandum of Cooperation (MOC) with PT Pertamina (Persero), Indonesia’s state owned energy company. The cooperation will cover exploration, development and oil-and-gas production.

The MOC was signed by Senior Vice President Upstream Development and Production Petronas, Mohamad Johari Dasri, and Senior Vice President Upstream and Development Pertamina, Denny S Tampubolon, witnessed by Pertamina President Director Dwi Soetjipto.

“The memorandum of cooperation does not only aimed at strengthening the foothold in Southeast Asia, but also opens up opportunities for cooperation in encountering numerous challenges amid low oil price at present,” said Senior Manager Corporate Affairs Petronas, Andiono Setiawan, in a statement.

Both parties also discussed ways to cooperate in the development of Liquified Natural Gas (LNG) to strengthen cooperation between the two companies. (*)