SK Corp pairs up with Pertamina to up oil production

In a move that expands SK Corp's reach and boosts Pertamina's production the two companies sign a JV agreement to build a lubricants plant in Indonesia.

South Korea's leading oil refiner, has announced that it has signed a joint venture agreement with Indonesia's state-owned PT Pertamina to build and operate a lubricants plant in Southeast Asia.

Pertamina has been seeking partners to explore and develop its oil and gas fields because the firm needs to increase production to meet domestic demand and does not have the funds to go it alone.

Initially, the two companies plan to jointly invest $175 million, with SK Corp putting in...

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