Pertamina clinches long-term crude supply deal with Libya

State oil and gas company PT.Pertamina (Persero) said on Thursday it had signed 20-year crude supply deal with Libyan national oil company NOC.

Under the deal, NOC will supply 1-1.5 million barrels per month of Sarir sweet crude to Pertamina?s Balikpapan and Cilacap refineries starting October this year, CEO Arie Sumarno told reporters on Thursday.

Arie said Pertamina would buy Sarir crude at market price.

Arie added that NOC has also proposed joint venture to build a refinery in Indonesia. ?The plan is still under discussion,? he said, without revealing further detail. (godang)