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LUKOIL, Pertamina to Choose Joint Project in Indonesia
Russia’s oil blockbuster LUKOIL and Indonesian state-run Pertamina will choose projects during two years for the joint work in Indonesia, Interfax-Ani reported.
According to the press release of LUKOIL, the parties officially agreed Thursday to set up a managing committee and a joint group of technical experts to explore promising offshore and onshore areas in Indonesia.
“The purpose of this work is evaluation and interpretation of the data for further geological survey and development of oil and gas fields,” LUKOIL specified.
LUKOIL and Pertamina inked the agreement in Jakarta on Thursday, during the tour of President Vladimir Putin to Indonesia. In April, the parties sealed the memorandum of understanding, where they undertook to cooperate in exploration and development of oil and gas fields.
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