Pertamina and Sonatrach Sign MoU

Wednesday, December 27, 2017

Indonesia’s state-owned energy firm Pertamina plans to expand its presence in Algeria’s oil and gas sector. Pertamina officially amended its MoU with Algeria’s state-run firm Sonatrach. The MoU was originally signed in Q4 2016.

The amended MoU will allow Pertamina to develop new oil assets in Algeria.

Pertamina and Sonatrachare expected to finalize their deal soon and will settle several commercial terms before submitting a plan of development (POD) to the Algerian oil and gas authority.

“This move reflects Pertamina’s seriousness in expanding its upstream business operations overseas in an effort to increase Indonesia’s oil and gas production and reserves,” Pertamina president director Elia Massa Manik said in a statement.

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