The Abu Dhabi National Oil Company (ADNOC) and Indonesian energy company Pertamina have signed the comprehensive strategic framework (CSF) to explore opportunities for cooperation across the oil and gas business chain in both countries and abroad
With this agreement, Pertamina and ADNOC will explore opportunities for cooperation in the upstream to downstream sectors. The projects include participation in the UAE upstream oil and gas sector, refineries, petrochemicals, LNG, LPG, Avtur and the oil and gas retail business in Indonesia, Pertamina said in a statement.
In addition, both parties will explore various other forms of strategic collaboration.
Nicke Widyawati, Pertamina’s managing director, said, the Indonesian company plans to develop an additional refinery capacity of one 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. The interest of ADNOC to participate in the oil and gas business in Indonesia is significant support for Pertamina to ensure availability and accessibility of energy for the people of Indonesia,” he added.
Sultan Ahmed Al Jaber, ADNOC CEO, commented, “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.”
This collaboration, added Al Jaber, will show the efforts of ADNOC to create value for the entire portfolio and its efforts to expand international investment.
