Dubai PR Network, Online Press Release from Dubai and Middle East
 
Oil & Gas(Energy and Industry)
Filter PR by
  
ADNOC and Pertamina Sign Comprehensive Strategic Framework in Oil and Gas Development
 

Framework signed in the presence of the Crown Prince of Abu Dhabi and the President of Indonesia.

ADNOC and Pertamina to explore opportunities for collaboration across the oil and gas value chain in the UAE, Indonesia and globally. 

Projects under consideration include potential new investments in upstream, refining, petrochemicals, LNG, LPG, aviation fuel and fuel retail, as well as other forms of strategic collaboration.

Agreement further demonstrates both companies’ expanded partnership approach and drive to unlock value across their portfolio of assets.

Dubai, UAE - July 24, 2019: The Abu Dhabi National Oil Company (ADNOC) today signed a Comprehensive Strategic Framework (CSF) with Indonesia’s energy company, PT Pertamina (Persero) to explore opportunities for collaboration across the oil and gas value chain in the United Arab Emirates, Indonesia and globally. The signing of the agreement took place in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Force and His Excellency, Ir. H. Joko Widodo, President of Indonesia. 

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Nicke Widyawati, President Director & CEO of Pertamina signed the agreement.

As part of the CSF, ADNOC and Pertamina will 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. In addition, the two partners will explore other forms of strategic collaboration with respect to opportunities across transportation, trading and storage in the UAE, Indonesia and globally. 

Pertamina is the state-owned energy company of Indonesia. The company operates an integrated business in the energy sector in Indonesia and is expanding its overseas presence. The company produces and distributes energy products such as fuel, lubricants, LPG, LNG, and petrochemicals. Currently, Pertamina owns six oil refineries in Indonesia with a combined production capacity of 1.1 million barrels of oil per day (mmbpd). At the same time, the company is developing renewable energy from many potential resources in the country.

H.E. Dr. 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.” 

He added: “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.”

Nicke Widyawati said: “Pertamina plans to develop an additional 1 mmbpd 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.” 

Working groups from each side will be meeting over the coming months to evaluate and shortlist key areas for strategic collaboration across both companies’ extensive asset and project portfolios. It is expected that specific collaboration options will be agreed for execution by the end of 2019.

This new partnership marks another step in ADNOC’s group-wide transformation and value creation program that addresses the evolving energy and petrochemicals landscape and ensures ADNOC remains a resilient and flexible company able to take full advantage of emerging market opportunities and trends. The Group’s transformation is driven by an expanded approach to strategic partnerships and co-investments as well as the more proactive management of ADNOC’s portfolio of businesses, assets and capital. 

As for Pertamina, the collaboration supports its ambition to embark into the global energy arena and acts as a stepping stone to achieve greater competitiveness to compete with international energy players.

 


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 8147 times
PR Category : Energy and Industry
Posted on : Wednesday, July 24, 2019  2:25:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : US $859bn Oil, Gas and Petrochemical Projects Underway or Pl...
Next Story : Oil and Gas industry's digital transformation fast tracked a...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Joyalukkas Wins Best Bridal Diamond Jewellery of the Year and Best TV Campaign of the year... [19340-Views]
It's Your Story, Wear it your Way [8540-Views]
Attain The Latest K-Beauty Trend: Jell-O Skin with The Face Shop [6966-Views]
ADNOC Distribution Announces H1 2022 Results, Records Strong Performance [6330-Views]
Ahood Alenezi Is Announced as the Face of Djula [6224-Views]
Catrice Fall In Colours [4547-Views]
Malabar Gold & Diamonds Wins Two Awards at the 48th IGJA 2021 held in India [4125-Views]
Etihad Airways Announces Double Daily Flights to Manila [4096-Views]
Introducing Samsung Galaxy Z Flip4 and Galaxy Z Fold4: The Most Versatile Devices, Changi... [4092-Views]
Paperworld Middle East, Gifts & Lifestyle Middle East Eye 2022 Double-Digit Growth [3874-Views]
A Quick Post Beach Look with essence Cosmetics! [3866-Views]
Four Nashi Summer Must-Haves To Combat The Heat [3862-Views]
The Graff Butterfly Collection She Can Fly, She's a Butterfly [3854-Views]
Five CATRICE Products you need While Traveling! [3776-Views]
A New Revolutionary Product Hits the Shelves at Danube Building Materials-Decorative Wraps... [3423-Views]
Sharjah Chamber Launches Back-to-School Campaign across the Emirate's Malls, Libraries, an... [3366-Views]
Mai Dubai receives two Grade A certifications from Dubai Municipality [3321-Views]
i-PRO Now Adds AI to its PTZ Cameras and Revamps the Range [3272-Views]
Celebrate the 25th Edition of Dubai Summer Surprises with 2022INFINITI QX80 [3272-Views]
Rashed Aims for Victory in Lithuania to Revive World Title Hopes [3227-Views]
Kia Announces Implementation of New Showroom Identity Across the Middle East and Africa [3149-Views]
Hitachi Energy Supports Huge Step in Germany's Energy Transition [3141-Views]
Mitch Evans Ready for Championship Showdown [3136-Views]
Inclusion and Talent Strategies for Energy Companies in the Middle East [3132-Views]
China Consulate in Dubai VIP Delegation Visits Mohammed Bin Rashid Library bearing a Gift ... [3071-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories