Dr. Sultan bin Ahmad Sultan Al Jaber, the Minister of State and Group CEO of ADNOC/Bloombergby Kudakwashe Muzoriwa
The Abu Dhabi National Oil Company (ADNOC) has signed an MoU with Indonesia’s Pertamina Persero to explore the potential development of crude to petrochemicals complex in Indonesia as well as the supply of 528,000 tonnes of liquid petroleum gas (LPG) by the end of 2020.
ADNOC also signed an agreement with Chandra Asri to explore the potential supply of naphtha in Indonesia that would be utilised as a feedstock for their current and potential new cracker complex in the country.
Dr. Sultan bin Ahmad Sultan Al Jaber, the Minister of State and ADNOC Group CEO, said that the agreements with the two Indonesian firms will help the state-owned energy giant to secure additional in-market presence in Southeast Asia.
ADNOC’s potential supply agreement with Chandra Asri will further expand the oil company’s reach in Indonesia and is expected to help lay the groundwork for other potential areas of collaboration between the two companies.
As part of its 2030 smart growth strategy, ADNOC has embarked on a significant expansion of its downstream business with an intention to secure markets for its core hydrocarbon products and capture greater margins throughout the value chain.
The national oil company is also exploring a number of targeted international investment opportunities to support its refining and petrochemicals growth ambitions.