Rosneft, Pertamina to study prospects of cooperation

By Godang Sitompul

Russia?s state controlled oil and gas firm Rosneft has signed a MoU for business cooperation with Indonesian state-owned oil and gas firm PT Pertamina at the recent St. Petersburg International Economic Forum.

Rosneft said in a statement last week that the document was signed by Rosneft Chairman of Management Board Igor Sechin and Pertamina CEO Dwi Soetjipto.

The document provides for a joint study of potential areas of cooperation between the two companies, particularly in hydrocarbons upstream in Russia and Indonesia, marketing and logistics (storage, oil and oil products blending), as well as oil refining in Indonesia.

In addition, the parties agreed to review the possibilities of partnership in the area of oil and oil, oil products, petrochemicals, LPG and LNG supplies to Indonesia.

The partnership with Pertamina, one of the leaders of Indonesia?s energy market, opens up new export outlet possibilities for Rosneft. In addition, in line with the Memorandum, Rosneft may gain access to ultimate consumers of the largest economy of South-East Asia and net importer of oil.

Editing by Reiner Simanjuntak