A memorandum of understanding (MoU) has been signed today, 13 September by the Indonesian national oil and gas company PT Pertamina (Persero) and Statoil ASA, covering cooperation between the two companies.
The MoU was signed by chief executives Helge Lund of Statoil and Ari H Soemarno of Pertamina. The president of Indonesia, Dr Susilo Bambang Yudhoyono, and the prime minister of Norway, Jens Stoltenberg attended the signing in Oslo.
The MoU provides the framework for analysing and pursuing joint business opportunities in the area of exploration and production, initially in Indonesia and then potentially other countries.