Pertamina, SK agree to cooperate in refinery production

State owned oil and gas firm PT Pertamina and South Korean firm SK Korea signed on Wednesday a memorandum of understanding (MoU) to cooperate in refinery production.

Evita Legowo, Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, said under the MoU, Pertamina will absorb excess output of SK.

"SK will send their products here for Pertamina's refineries. The format and the type of the deal is not clear yet. Pertamina and SK are still discussing it," Evita said.

Pertamina's president director Karen Agustiawan refused to provide details about the MoU. "Just wait for a joint release," she said. (Godang)