OREANDA-NEWS. December 22, 2010.  Indonesia is to engage LUKOIL to tap local offshore deposits, according to information on Russia-Indonesian trade and economic cooperation published on the Economic Development Ministry’s website. In particular, LUKOIL and Indonesian state-run O&G company, Petramina, are taking steps to cooperate in the area of oil production, refining and transportation.

The Indonesian Ministry of Trade reported that the Indonesian party was about to engage LUKOIL in projects to explore and tap crude at the deep marine shelf in the West Papua region. In 2007, LUKOIL Overseas and Petramina signed a memorandum of understating regarding the cooperation in the field of oil and gas exploration and production in Indonesia, Russia and other countries.