Cooperation Agreement for Upgrading Subsurface Capabilities

This Cooperation Agreement between PT Pertamina (Persero) and Halliburton aims to enhance Indonesia's subsurface capabilities in select onshore locations. The partnership focuses on accelerating the adoption of advanced technologies in drilling and well stimulation, specifically targeting multi-stage hydraulic fracturing, acid stimulation, and advanced cementing services. By leveraging Halliburton's expertise, Pertamina seeks to improve the efficiency and effectiveness of its operations in these areas. The agreement involves a comprehensive evaluation system, suggesting a structured approach to technology implementation and performance assessment. While the financial details of the agreement remain undisclosed, the involvement of a major national oil company like Pertamina and a global oilfield services provider like Halliburton underscores the strategic importance of this collaboration. The partnership is likely to facilitate knowledge transfer and technology adoption, potentially leading to increased oil and gas production in Indonesia. The focus on onshore locations suggests a targeted effort to optimize existing assets and potentially unlock new reserves through enhanced recovery techniques.