MOSCOW (MRC) -- Pertamina said on Thursday it plans to process its share of Malaysian and Iraqi crude oil production at Petronas’ refineries in Malaysia in return for gasoline as Indonesia strives to reduce oil imports, reported Reuters.
"We’re approaching (Petronas) on whether we can utilize Petronas refinery to process our crude (produced) from Malaysia’s fields," Heru Setiawan, director of investment planning and risk management at Pertamina told reporters."
"We can also bring our crude from Iraq field to Petronas’ refinery," he said.
The two companies agreed earlier this week to a crude swap deal.
Separately, Dharmawan Samsu, Pertamina’s upstream director, said the company is also looking at increasing its stakes in Malaysia’s oil and gas fields.
The companies are also exploring further cooperation in the oil and gas exploration sector in the Middle East and Africa as both companies have assets in countries such as Gabon and Iraq, the officials said.
As MRC wrote before, in December 2018, Pertamina signed an engineering, procurement and construction (EPC) contract to upgrade Balikpapan refinery in 2019.
Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established 1957). Pertamina is the world's largest producer and exporter of liquefied natural gas (LNG).
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