Pertamina, KNOC Agree to Work Together on Oil, Gas Blocks

PT Pertamina and Korea National Oil Corporation (KNOC) have signed an agreement to cooperate with each other in upstream oil and gas business they are interested in, including Kazakhstan, medias reports in Indonesia said.

The two parties will explore, develop and produce hydrocarbons both domestically and globally. Both companies also will conduct studies of geology, geophysics, and other related studies in Indonesian open blocks.

Within the MoU, Pertamina and KNOC will establish a working group, consists of both companies representatives which will conduct feasibility study.