Pertamina, Statoil sign cooperation agreement

PT Pertamina and Statoil ASA have signed a memorandum of understanding covering cooperation between the two companies.

Offshore staff

OSLO, Norway -- PT Pertamina and Statoil ASA have signed a memorandum of understanding covering cooperation between the two companies.

The memo outlines the process for analyzing and pursuing joint opportunities in exploration and production in Indonesia, first, and then other locations.

"The MoU with Pertamina underlines our international growth ambition," said Helge Lund of Statoil. "Both Statoil and Pertamina have the skills, experience and technologies that will add value to this partnership. We hope that this will create significant growth potential for both parties."

"We are delighted to join ranks with Statoil in pursuing new exploration opportunities and enhancing existing production areas," said Ari Soemarno of Pertamina. "Our cooperation with Statoil is part of Pertamina's drive to establish closer working relationships with global players."

9/13/06

More in Business Briefs