Hanoi (VNA) – Indonesian oil and gas company PTPertamina has signed a memorandum of understanding (MoU) with Guma AfricaGroup Limited on the establishment of an alliance to explore potential projectsin the upstream and downstream oil and gas business in Africa.

President Director of Pertamina Nicke Widyawati was quoted by local media assaying that the firm hopes to be able to apply the competence and experiencethat Pertamina has in Indonesia in Africa.

The deal is expected to enable Indonesia and Africancountries to maximise opportunities to achieve economic growth and energysecurity both in Indonesia and Africa.

Meanwhile, Executive Chairman of Guma Africa Group Limited,Robert Gumede, said that the signing was a great momentum. Pertamina will helpAfrica in terms of exploration, processing, and importing natural resourceproducts, he said.

Gumede said that the firm will apply experience learnt from Pertamina inAfrican countries, where sources of oil and gas and new renewable energy areabundant. He expressed delight that it is a mutually beneficial collaboration.

During Pertamina officials' earlier visit to Africa, alongside President Joko Widodo'svisit, it had initiated collaboration with several business partners in Africafor upstream to downstream oil and gas development, including new and renewableenergy sources, such as geothermal.

Pertamina estimates that total potential investment in thecollaboration is about 2.6 billion USD. Thecollaboration was carried out in Kenya, Tanzania, Mozambique, and South Africa,aiming to increase Pertamina’s production and role in energy transition./.