Pertamina and Timor Gas e Petroleo sign MoU

Indonesia’s state-owned oil and gas firm PT Pertamina and Timor Leste’s national oil company, Timor Gas e Petroleo (GAP), have agreed to join forces and develop the oil and gas business in Timor Leste. The two companies have signed a memorandum of understanding (MoU) which covers all aspects of the oil and gas business, including upstream, processing, downstream, marketing, construction of fuel stations, supply, and development of human resources. “Pertamina is currently the market leader in Timor Leste, particularly in downstream sectors like retail and industrial fuels, aviation fuel, liquefied petroleum gas [LPG] and lubricants. We’re looking forward to strengthening our cooperation with GAP,” said Karen Agustiawan, Pertamina president and director. (June 17, 2012)