By M K Anwar

Bandar Seri Begawan - Brunei National Petroleum Company Sendirian Berhad (PetroleumBRUNEI) marked another milestone yesterday with the signing of a Memorandum of Understanding for mutual cooperation and strategic alliance with PT ELNUSA, a Subsidiary of PT Pertamina (Persero), and a distinguished player in the oil and gas services industry in the Republic of Indonesia.

The signing ceremony was held at PetroleumBRUNEI main office at the Yayasan Complex in the capital. Signing on behalf of PetroleumBRUNEI was its Acting Chief Executive Officer, Mohammad Reduan bin Hj Mohd Yusof, while PT ELNUSA was represented by its President and Chief Executive Officer, Mr Rudy Radjab.

Mr Rudy Radjab told the Borneo Bulletin that the MoU signifies a synergy between the two companies, which will help the development of the oil and gas industry in both the countries.

He further noted that (his company's) wealth of experience will hopefully help PetroleumBRUNEl in developing the nation's oil and gas for local and international markets.

Mr Rudy Radjab added the MoU would serve to enhance relations that have been established between Brunei and Indonesia.

Tuesday marked a significant event in the relations between Brunei and Indonesia as it was the 22nd anniversary of the republic's diplomatic ties with Brunei Darussalam, established when the Sultanate achieved its independence in 1984.

With more than 30 years of experience, ELNUSA has proven itself in the oil and gas industry and its valuable experiences will undoubtedly be shared with PetroleumBRUNEl following the signing of the MoU.

The memorandum should also help to attract investments into both countries.
The MoU provides for a long-term mutual cooperation and assistance between the two companies especially in achieving their objectives to explore and work together in the oil and gas industry, particularly in areas concerning personnel, oil and gas services and finance.

The MoU also ensures collaboration between the two companies in achieving a greater goal in the acquisition and management of oilfields within the Asian region.

Also witnessing yesterday's signing was the Minister of Finance II, Pehin Dato Seri Setia Awg Hj Abdul Rahman bin Hj Ibrahim. Later, souvenirs were exchanged between Pehin Dato Awg Hj Abdul Rahman and the CEO of ELNUSA.

PetroleumBRUNEl in its press release said that it is dedicated to the long-term socio-economic development of the country and hopes that the MoU with PT ELNUSA will create opportunities and broaden PetroleumBRUNEI's operation in oil and gas industry in line with its goal of securing a sustainable energy future for Brunei. -- Courtesy of Borneo Bulletin