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Pertamina & ADNOC Explores the Integrated Oil and Gas Business Cooperation

Source: www.gulfoilandgas.com 7/24/2019, Location: Middle East

Pertamina and The Abu Dhabi National Oil Company (ADNOC) signed the Comprehensive Strategic Framework (CSF) to explore opportunities for cooperation across the oil and gas business chain in both the United Arab Emirates, Indonesia and internationally.

The signing of the agreement was carried out by Dr. Sultan Ahmed Al Jaber, UAE Minister of State, CEO of ADNOC Group, and President Director of Pertamina, Nicke Widyawati. After the signing of the agreement, documents were exchanged in the presence of Crown Prince Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, H.R.H. Sheikh Mohammed bin Zayed Al Nahyan and President Joko Widodo.

With this agreement, Pertamina and ADNOC will explore opportunities for cooperation in the upstream to downstream sectors. The projects that are considered include participation in the UAE upstream oil and gas sector, refineries, petrochemicals, LNG, LPG, Avtur and the oil and gas retail business in Indonesia.

In addition, both parties will explore various other forms of strategic collaboration.

Pertamina continues to expand its business abroad and markets various types of products such as fuel, lubricants, LPG, LNG and petrochemicals.

Pertamina has six oil refineries with a production capacity of 1.1 million barrels of oil per day (mmbpd). At present, Pertamina is also developing new and renewable energy from various potential sources in Indonesia.

Dr. Sultan Ahmed Al Jaber expressed his joy at the signing of this agreement. According to him, this agreement will strengthen relations between the two countries. "Indonesia has a rapidly growing industrial base and energy market.

"We see significant opportunities to work together between the two companies to build projects to achieve common strategic goals," he said.

This collaboration, added Ahmed, will show the efforts of ADNOC to create value for the entire portfolio and its efforts to expand international investment to become a truly global energy company.

Meanwhile, President Director of Pertamina, Nicke Widyawati said, Pertamina plans to develop an additional refinery capacity of 1 MMBPD through the Refinery Development Master Plan (RDMP) and Grass Root Refineries (GRR) projects.

"The partnership with ADNOC will be an important milestone for Pertamina to secure energy supplies from abroad.

"The interest of ADNOC to participate in the oil and gas business in Indonesia is very meaningful support for Pertamina to ensure availability and accessibility of energy for the people of Indonesia," Nicke said.



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