Petroleum Africa
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Monday, June 28, 2021
Sonatrach and its Indonesian partner Pertamina have strengthened their relationship by signing a Memorandum of Understanding (MoU). The two companies have agreed to continue their strategic collaboration to increase their portfolio of activities in Algeria and internationally.
The MoU, signed by Mr. Toufik Hakkar, Chief Executive Officer of Sonatrach, and Mrs. Nicke Widyawati, Chief Executive Officer of Pertamina will cover the entire hydrocarbon value chain, from upstream to downstream.
The cooperation potential would include, in particular, existing and / or new projects upstream, the supply of crude oil and LPG, renewable energies and Research & Development.
“We welcome the signing of this new Memorandum of Understanding, which demonstrates the will of the two parties to strengthen their existing relations,” Hakkar stated. He also expressed his willingness to strengthen this relationship through the examination and identification with Pertamina, new investment opportunities in oil and gas in Algeria and abroad, mutually beneficial.
“The National Hydrocarbon Companies such as Pertamina and Sonatrach must be at the forefront of the national interest, in particular by guaranteeing the supply of energy on the domestic market,” commented Widyawat. Shea added that thanks to her cooperation with Sonatrach, Pertamina is optimistic about its ability to overcome various challenges the oil and gas industry will face in the future especially seeing as how the industry is encouraged to enter the energy transition and move toward decarbonization. “Oil and gas companies need to think creatively and carefully to manage their portfolios,” she further stated.
“Aware of future environmental and economic challenges, Sonatrach has already initiated, internally and in collaboration with its partners such as Pertamina, reflection on the transformations to be made in its various activities, to reduce greenhouse gas emissions,” Hakkar offered. “The conclusion of the Memorandum of Understanding confirms, once again, the interest of the oil and gas companies for the Algerian mining sector,” he added.
Pertamina has had commercial relations with Sonatrach since 2002, for the purchase of cargoes of crude oil. Currently, through its upstream subsidiary, PT Pertamina International Exploration & Production (PIEP), Pertamina owns a stake and operates with Sonatrach and another partner the MLN field and its satellites, the first upstream asset in operation of Pertamina abroad.
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