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 Memorandum of Understanding, 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 potential for cooperation would include, in particular, existing and / or new upstream projects, 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,’ said Mr. Toufik HAKKAR. He also expressed his willingness to strengthen this relationship through the examination and identification with Pertamina of 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’, declared Mrs. Nicke Widyawati adding that thanks to her collaboration with SONATRACH, Pertamina is optimistic about its ability to overcome various challenges that the oil and gas industry will face in the future tendency to decarbonization.
‘Therefore, oil and gas companies need to think creatively and carefully to manage their portfolios,’ added Ms. Nicke Widyawati.
‘Aware of future environmental and economic challenges, SONATRACH has already initiated, internally and in collaboration with its partners such as Pertamina, reflection on the changes to be made in its various activities, to reduce greenhouse gas emissions’ , indicated Mr. Toufik HAKKAR. The conclusion of the Memorandum of Understanding confirms, once again, the interest of the oil and gas companies for the Algerian mining sector’.