Pertamina lures Petronas

Tue, 30 May 2000, 00:00 WIB | Source: DJ

KUALA LUMPUR (Dow Jones): Indonesia's state oil and gas
company Pertamina Monday invited Malaysia's Petronas Nasional
Berhad, or Petronas, to participate in a US$800 million oil
pipeline project in Java, Indonesia, state-funded news agency
Bernama said.

It quoted Pertamina's president director, Baihaki Hakim, as
saying that Pertamina would also offer upstream projects in
offshore areas of the Markesa Straits to Petronas.

Baihaki was speaking to reporters at the Asia Oil and Gas
Conference 2000 in Kuala Lumpur after Malaysian Prime Minister
Mahathir Mohamad had earlier called for greater cooperation
between Petronas and Pertamina.

He said equity participation by Petronas in joint projects was
subject to negotiations.

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