The UAE state-owned oil company ADNOC has signed a comprehensive strategic framework (CSF) agreement with Indonesia’s energy company, PT Pertamina (Persero), to explore opportunities for collaboration across the oil and gas value chain in the UAE, Indonesia, and worldwide.
Announcing the agreement through its social media channels on Wednesday, ADNOC said that the framework will allow both companies to evaluate collaboration opportunities across the upstream, midstream, and downstream sectors.
The scope of projects under consideration includes participation in the UAE’s upstream oil and gas sector, as well as refining and petrochemicals, LNG, LPG, aviation fuel and fuel retail opportunities in Indonesia.
Speaking about the agreement, UAE Minister of State and ADNOC Group CEO, Dr Sultan Al Jaber said: “We are pleased to sign this agreement with Pertamina today, building on the strong existing relationship between our two countries.
“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.”
Earlier this week, ADNOC also signed a framework agreement with China National Offshore Oil Corporation, CNOOC, for cooperation in upstream, downstream, and LNG sectors.
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