Execution of Memorandum of Understanding with Pt Pertamina(persero)

Source Press Release
Company Japan Oil, Gas and Metals National CorporationJXTG Holdings, Inc.Pertamina 
Tags Corporate Deals, Deals, Upstream Activities
Date October 29, 2018

Japan Oil, Gas and Metals National Corporation(“JOGMEC”) is pleased to announce that it has, in collaboration with JX Nippon Oil and Gas Exploration Corporation(“JX”), executed a Memorandum of Understanding(“MOU”) with PT  Pertamina(Persero)(“Pertamina”), an Indonesian state-owned oil and gas company, to implement a joint study and a business plan in the upstream oil and gas sector including CO2 Enhanced Oil Recovery(CO2-EOR).

Under the MOU, JOGMEC, JX and Pertamina will explore cooperation opportunities through the joint study and business plan discussions, setting a specific target on commercialization of the oil and gas assets owned by  Pertamina or its affiliates, utilizing the experience, knowledge and technology of JOGMEC and JX.

Aiming to secure stable supplies of natural resources and energy for Japan, JOGMEC continues to successively accumulate technical abilities in oil development and promotes joint study opportunities with oil-producing countries, in order to both transfer knowledge and strengthen positive international working relationship.

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