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Indonesian firms agree on cooperation

Malaysian Tenggara Oil and PT Elnusa - an Indonesian company that is 51.38% owned by Pertamina - have signed a MOU that will see the two firms cooperate in upstream and downstream oil and gas services. The MOU is valid for six months.

Under the terms of the memorandum, the Indonesian firm will provide its expertise in the upstream industry and will also provide Tenggara with government and industrial sector liaison services. Tenggara, in turn, will provide its expertise in the oil and gas sector, exploration, production and financing. Tenggara would also supply lubricants to the Indonesian market.

In a press release issued by Tenggara, the two companies would cooperate in the exploration, production and maintenance of oil and gas fields and the retailing of Malaysian-made lubricants made and other oil related products.

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