Pertamina, Petronas Join Forces to Develop Oil and Gas Business

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Laila Afifa

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  • Oil Wharf Terminal of PT. CPI Port in Dumai, Riau, Tuesday, January 15, 2019.  ANTARA FOTO/Aswaddy Hamid

    Oil Wharf Terminal of PT. CPI Port in Dumai, Riau, Tuesday, January 15, 2019. ANTARA FOTO/Aswaddy Hamid

    TEMPO.CO, Jakarta - Indonesian state-run energy company Pertamina and Malaysia’s Petroliam Nasional Berhad or Petronas have signed a memorandum of understanding to develop the oil and gas business.

    Pertamina’s investment planning and risk management director Heru Setiawan said that the synergy between two state-run energy companies will enable both Pertamina and Petronas to explore business opportunities outside of the two regions.

    “This partnership oversees strategic and operational partnership,” said Heru on Tuesday, February 26.

    This deal includes cooperation in the field of research and development, oil and gas exploration studies that include applying technologies in high-Co2 level oil fields, trading oil and gas products, renewable energy and many more.

    The MoU was attended by Pertamina investment planning and risk management director Heru Setiawan and Upstream Director Dharmawan H. Samsu. Meanwhile, Petronas was represented by EVP & CEO of Upstream Business Datuk Mohd Anuar Taib, EVP & CEO of Downstream Business Datuk Md Arif Mahmood, and SVP Corporate Strategy En Mohamed Firouz Asnan.

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