ADNOC signs petrochemical and gas agreements with two Indonesian companies

A view of ADNOC headquarters in Abu Dhabi, UAE. (File photo: Reuters)

The Abu Dhabi National Oil Company (ADNOC) has signed agreements with Indonesia’s Pertamina and Chandra Asri to develop petrochemicals and gas, UAE state news agency WAM reported on Sunday.

ADNOC signed a memorandum of understanding to explore the development of a petrochemicals complex in Balongan, Indonesia, and a sales agreement which will see ADNOC supply Pertamina with 528,000 million tons of liquefied natural gas (LNG) by the end of 2020.

Chandra Asri also signed an agreement with ADNOC to explore the supply of naphtha to Chandra Asri.

“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, said Dr. Sultan bin Ahmad Sultan Al Jaber, Minister of State and ADNOC Group CEO.

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Last Update: 05:23 KSA 08:23 - GMT 05:23
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