Jakarta (ANTARA News/Asia Pulse) - Indonesian state oil and gas company PT Pertamina said it has agreed with India's GAIL Ltd (BSE:532155) to cooperate in the oil and gas business in the upstream and downstream sectors.
Under the agreement, Pertamina has been offered the option to develop oil fields in India and GAIL has been invited to invest in city gas projects in Indonesia, Pertamina vice president Iin Arifin Takhyan said.
He said Pertamina will offer cooperation with GAIL in developing compressed natural gas for city gas, which is growing in demand in Indonesia as fuel prices soar.
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