SOCHI: Igor Sechin, the head of Russia's largest oil producer Rosneft, said on Thursday that Indonesia's rising oil demand and falling production were the reasons for his company's interest in the country's projects.
"The country produced, say 10 years ago, 71 million tonnes of oil, now it is 38 million, while by 2030 it will be 11 million tonnes, while consumption is rising," Sechin said.
"Of course, it creates conditions for our interest, when it comes to supplies, as well as participation in downstream and trading," Sechin said. Rosneft and Indonesia's Pertamina are expected to sign a framework deal this week on an oil refinery in Indonesia.
Last month, Rosneft said it had discussed Pertamina's possible participation as a shareholder in its upstream projects in Russia. Both companies have also considered Rosneft's possible participation in downstream projects in Indonesia.
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