NPCP, Indon oil firm in JV deal

Business, Normal

The National, Monday June 24th, 2013

 THE National Petroleum Company PNG (NPCP) Ltd and Indonesia’s PT Pertamina have agreed to pursue business opportunities in the oil and gas sectors in both countries or overseas.

A two-year deal to do this was signed in Indonesia last Tuesday.

The agreement would enable NPCP and Pertamina to jointly identify, study and pursue business opportunities in the oil and gas sector in Papua New Guinea, Indonesia or other countries.

Acting managing director Wapu Sonk said: “The MoU provides NPCP access to one of the oldest national oil companies in the region with many years of experience in the upstream, midstream and downstream sectors of the oil and gas industry, including over 35 years of experience in operating LNG plants.”

He said NPCP and Pertamina would jointly carry out several key oil and gas industry activities that included exploration and identification and analysis of upstream ventures in both “greenfield” and “brownfield” areas.