Angola’s state oil and gas company Sonangol may start exporting crude oil to Indonesia early 2015, company officials said
Indonesian president Joko Widodo has recently signed a Memorandum of Understanding (MoU) with the African nation.
“This MoU between state-owned Pertamina and Sonangol is the first official bilateral agreement of my government,” Jokowi added.
The cooperation between the two state-owned companies would involve petroleum production and crude oil shipments. The framework agreement also elaborates also on upstream production development.
Muhammad Husen, president at Pertamina, said that the oil production projects were necessary for Indonesia to uphold sustainable energy.
“We are considering a joint venture company with Sonangol related to three groups of businesses — upstream, refining and trade and marketing.
“Pertamina is optimistic that in the next five to six years, Indonesia will be a self-sufficient energy producer through this deal,” added Husen.
If a deal is reached, Sonangol could begin shipments within two or three months, according to Francisco de Lemos Jose Maria, chairman of Sonangol’s board of directors.
The two sides are also reportedly discussing the possibility of building a refinery in Indonesia. Pertamina sources noted that a refinery with the capacity of between 200,000 to 300,000 bpd would be economically viable in Southeast Asian country.
