The Abu Dhabi National Oil Company (ADNOC) has signed a comprehensive strategic framework (CSF) with Indonesian energy company Pertamina for the collaboration across the oil and gas value chain in the UAE, Indonesia and worldwide.
As part of the CSF, the two parties will evaluate partnership opportunities across the upstream, midstream and downstream sectors.
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The projects that will see the participation of the two companies include the UAE’s upstream oil and gas sector, as well as refining and petrochemicals, LNG, LPG, aviation fuel and fuel retail opportunities in Indonesia.
The two companies will also explore further opportunities with respect to transportation, trading and storage sectors worldwide.
UAE Minister of State and ADNOC Group CEO Al Jaber said: “Indonesia has a thriving industrial base and is a rapidly growing market for energy.
“We see significant opportunity for collaboration between our two companies and the development of projects that meet our joint strategic objectives.
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By GlobalData“This collaboration with Pertamina further demonstrates ADNOC’s drive to unlock value from across our entire portfolio and our ambition to expand our international investments to become a truly global energy company.”
Pertamina produces and distributes energy products such as fuel, lubricants, LPG, LNG, and petrochemicals across Indonesia. It currently owns six oil refineries in Indonesia, capable of producing 1.1 million barrels of oil per day (Mmbpd).
The company is also currently developing renewable energy from potential resources in the country.
Pertamina president, director and CEO Nicke Widyawati said: “Pertamina plans to develop an additional 1Mmbpd of refining capacity through the Refinery Development Master Plan (RDMP) and Grass Root Refineries (GRR) projects.
“Therefore, partnership with ADNOC will be an important milestone for Pertamina to secure energy supplies from overseas.
“ADNOC’s interest to participate in Indonesia’s oil and gas landscape is monumental to support Pertamina in ensuring the availability and accessibility of energy for Indonesian people.”
The strategic collaboration is part of ADNOC’s transformation and value creation programme which is aimed at addressing the evolving energy and petrochemicals landscape.
