Pertamina signs MOU with Indian Oil Corporation
By Hans Bodega
Thursday, July 13 2000 - 12:00 PM WIB
State oil and gas company Pertamina signed on Thursday a memorandum of understanding with Indian Oil Corporation (IOC) Ltd to promote cooperation in oil and gas business.
The MOU was signed by Pertamina's president Baihaki Hakim and IOC chairman M.O. Pathan.
Under the MOU, both companies will form a joint team to explore opportunities where both companies could cooperate, including the possibility for the Indian firm to buy liquefied natural gas (LNG) from Indonesia.
The team will also study possible cooperation in oil and gas exploration and production, trading, refinery improvement, information technology.
Earlier, Baihaki said IOC was interested in buying 1.8 million tons of LNG per year from Indonesia, but Nathan said India could import more from Indonesia, depending the price. (*)