Rosneft eyes partnerships in Indonesia

April 28, 2016

Chairman of the Rosneft management board Igor Sechin is in Indonesia holding negotiations with the Energy and Mineral Resources Minister Sudirman Said, State-Owned Enterprises Minister Rini Soemarno and Pertamina’s president director Dwi Soetjipto.

According to Rosneft, the parties are looking to collaborate in new technology developments, training of personnel, crude and product supplies and logistics and infrastructure.

Rosneft is also keen to participate in oil refining projects in Indonesia while Pertamina becomes a shareholder in Rosneft's upstream projects in Russia.

Currently, Russian crude is supplied to Indonesia from South Korea and Singapore. Sechin said it is crucial for Rosneft to arrange direct shipments of hydrocarbons, which will increase the economic efficiency of oil refining in Indonesia.

And collaboration with Pertamina will provide an additional channel for Rosneft to supply its products to the country, with a population of 254 million people. Rosneft also has the interest to set a regional energy hub in Indonesia, based on an integrated partnership with Pertamina.

Last month, Rosneft and Siemens signed an agreement for the two to study opportunities to develop technical solutions, in particular, technologies for oilfields and refineries, such as heat recovery systems, variable speed drive and compressors.

This is just days after the Russian oil major agreed to sell stakes in its Siberian oil fields to three Indian energy companies. This deal will see Oil India, Indian Oil and Bharat Petroresources have a combined 29.9% interest in Taas-Yuryakh Neftegasodobycha, as well as acquire 23.9% stake in Vankroneft.

Read more:

Rosneft, Siemens ink development cooperation

Rosneft sells Siberian stakes to Indian firms



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