Pertamina EP signs MoU on vendor development with Bank Mandiri

PT Pertamina EP, a subsidiary of state oil, gas company PT Pertamina, has signed a memorandum of understanding with PT Bank Mandiri Tbk on the implementation of vendor development program.

Under the deal, Mandiri will provide loan facility such as easy access to loan for working capital to Pertamina EP vendors, given that the vendors meet the required performance, financial strength, management as well as health and safety standards.

President Director of Pertamina EP, Syamsu Alam, said the cooperation is a concrete synergy among state owned companies to maximize output as requested by the upstream oil and gas regulator BPMIGAS.

?We hope the (vendor development) program will go live in November,? said Syamsu Alam after signing the MoU. (bernard)