Pertamina, Petronas sign cooperation agreement

State owned oil and gas firm PT Pertamina (Persero) signed on Tuesday an agreement with Petronas E&P Overseas Ventures Sdn. Bhd to cooperate in oil and gas development.

The cooperation agreement covers oil and gas exploration, development and production.

The agreement was signed by Petronas? Senior Vice President Upstream Development and Production Mohamad Johari Dasri and Pertamina?s Senior Vice President Upstream and Development Denny S Tampubolon in a ceremony witnessed by Pertamina?s President Director Dwi Soetjipto, Detik reported.

?The cooperation agreement aims not only to strengthen growing aspirations in Southeast Asia, but also cooperation in meeting the challenges amid the oil price crash,? Petronas? Senior Corporate Affairs Andono Setiawan was quoted as saying.

Petronas and Pertamina are also discussing potential cooperation in LNG business, either as buyers or sellers, in Southeast Asia, Andono said. (*)