IOC signs agreement with Pertamina for bilateral cooperation

Jul 20, 2000 02:00 AM

The state-owned Indian Oil Corp. (IOC) has signed an agreement with Indonesia's Pertamina for bilateral cooperation covering the whole spectrum of the oil sector, an IOC statement said. The agreement was signed on July 13.
The cooperation between the two companies would cover crude oil exploration and production, LNG business, refining and marketing activities, upgradation of retail services, information technology, research and development (R&D), training and consultancy, and any other area of mutual interest, the statement said.
The agreement was signed by M. A. Pathan, Chairman, IOC, and Baikhari Hakim, president, director and CEO of Pertamina. LNG is likely to be a priority project under the pact, given that India has a huge demand to be met, the statement said.

Source: Bridge News via Newspage
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