UAE government-owned Abu Dhabi National Oil Company (ADNOC) has inked agreements with Indonesia’s Pertamina and Chandra Asri in the presence of the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, HH Sheikh Mohammed bin Zayed Al Nahyan, and the President of the Republic of Indonesia, Joko Widodo.
The deals including a memorandum of understanding (MoU) to explore the development of a crude to petrochemicals complex in Balongan, Indonesia; a sales deal that will see ADNOC supply Pertamina with up to 528,000 MT of LPG by end-2020; and the an MoU to explore potential supply of naphtha to Chandra Asri in Indonesia.
In the presence of @MohamedBinZayed and @jokowi, President of the Rep. of Indonesia, we exchanged signed agreements with Indonesia’s @Pertamina & @ChandraasriID,furthering our international partnership strategy and building upon the #UAE and #Indonesia’s strong bilateral ties. pic.twitter.com/zxAb0yFeLW— ADNOC Group (@AdnocGroup) January 13, 2020
The minister of state and ADNOC Group CEO, Dr Sultan bin Ahmad Sultan Al Jaber, signed each of the agreements, while president, director and CEO of Pertamina, Nicke Widyawati, and the president and director of Chandra Asri, Erwin Ciputra, signed on behalf of their firms.
Commenting on the deals, Dr Al Jaber said: "The agreements signed with Pertamina and Chandra Asri will potentially help ADNOC to secure additional in-market presence in one of Southeast Asia’s fastest-growing economies, enabling new domestic value-creation opportunities across the hydrocarbon chain."