Heaptalk, Jakarta — Indonesia’s oil and gas company Pertamina has signed a Memorandum of Understanding (MoU) with China’s Sinopec energy company to expedite energy transition and enhance business opportunities globally.
The signing of the MoU was carried out directly by the President, Director, and CEO of Pertamina, Nicke Widyawati, and the Chairman of Sinopec Group, Ma Yongsheng, in China last week. This agreement will strengthen businesses in the upstream, downstream, and new renewable energy sectors and enhance human resources capability.
In the upstream strategic partnership, these giant energy companies will expand the unconventional hydrocarbon, carbon capture utilization and storage (CCUS), enhanced oil recovery (EOR), and ultra-deep drilling. Meanwhile, the collaboration in the downstream sector will include the development of fuel and non-fuel businesses, aviation lubricants, petrochemicals, and transportation and logistics. As a part of the strategic affiliation in the New Renewable Energy (NRE) sector, these entities will also explore the development of geothermal energy, hydrogen, and solar power.
“Amidst the challenges faced due to climate change and the energy transition, collaboration with partners is crucial to overcome this issue, which is also expected to accelerate Pertamina’s business growth through the transfer of knowledge and technology integration.” The President Director and CEO of PT Pertamina (Persero), Nicke Widyawati, said.
As information, Sinopec is an international oil and gas company that has expertise in the fields of CCUS, unconventional hydrocarbons, petrochemicals and hydrogen. For this reason, this collaboration is expected to enable Pertamina to further develop its business. Previously, Pertamina’s subsidiary, PT Pertamina Hulu Energi, has also signed an MoU with the upstream sector from Sinopec. Therefore, this collaboration is looked forward to strengthen the implementation of the company’s technology in accelerating the energy transition.
After the company introduced their superior technology in Indonesia, the Sinopec’s Group Chairman, Ma Yongsheng, The chairman proposed that both parties appoint main coordinators from each company to carry out cooperation mechanisms in accordance with the signed agreement, and speed up the further phase of work.
