Pertamina lures Petronas

Pertamina lures Petronas

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.