PT. Pertamina (Persero) and Shell Exploration Company B.V. (Shell) are today pleased to announce the signing of a Memorandum of Understanding (MOU). This MOU will provide a framework for both companies to jointly evaluate and progress upstream opportunities in Indonesia. A steering committee, comprised of senior executives from each company, will be established to formally progress elements of the MOU. Sukusen Soemarinda, Corporate Senior Vice-President Upstream of PT. Pertamina (Persero) said, “Pertamina and Shell have a good history of co-operation in many areas and we are excited to look for opportunities to work together in developing new energy resources for Indonesia.” Guy Outen, Executive Vice President, New Business Development for Shell Exploration Company B.V., said, “Indonesia is an important country for Shell. Aside from Shell’s growing retail and branded Lubricants businesses, Shell is keen to contribute to Indonesia’s upstream resource base. Shell looks forward to progressing its partnership with Pertamina and contributing to Indonesia’s development.”
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