Under the deal, the companies will record key principles to develop and commercialize LNG from the Madura Gas Field and its surrounding fields in Indonesia.
Bumi and Pertamina will design, construct, install and operate a floating natural gas liquefaction and storage facility, together with an LNG carrier to transport LNG to consumers who are not close to clean energy sources, the Malaysian oil services company said in a statement.
Preliminary discussions have been initiated with potential off-taker clients and the first shipment of LNG is expected three years after making final investment decision, it added.
