STX, Pertamina form Indonesian oil, gas shipping JV

South Korean shipping and logistics firm STX Group reported on Thursday that it had signed an agreement with state oil and gas company PT.Pertamina to establish a joint-venture to transport oil and gas produced in Indonesian shore.

The two companies have agreed to start their business from next January upon completing the foundation of the joint-venture in September this year.

?This marks the first occasion for PT Pertamina to establish the joint-venture for logistics,? and added, ?STX Pan Ocean will not only able to secure cargo volume with a stable channel from PT Pertamina, but also be provided with a golden opportunity to advance into Indonesia?s import and export logistics industry,? the company said. (alex)