State-owned Indonesian company Pertamina has signed a research and development co-operation agreement with its Algerian equivalent, Sonatrach, the company has announced.
The arrangement will see the two companies share their expertise about various parts of the hydrocarbon chain, the gas industry and its derivatives and opportunities for future cooperation.
Signed during the World Gas Conference last week, the deal carries great strategic value for the two companies, Pertamina director of investment planning Afdal Bahaudin told the Jakarta Globe.
The Globe reported Pertamina signed three similar agreements late last month with the Kuwait Foreign Petroleum Exploration Company, HESS Venture and the Korea National Oil Corporation.
The news came a few days after Pertamina announced it was building three new oil production platforms and pipelines for the West Madura block off East Java.
The Jakarta Post reported the 21km of additional pipeline were due to be completed in late 2012, connecting the existing pipeline network with wells to be drilled in the future.
The USD 19 million contract was awarded to Bakrie Construction in January, with work getting underway in May.
