State oil and gas firm PT Pertamina and a consortium of South Korean companies signed a memorandum of understanding to examine the business opportunities in Indonesia’ oil and gas industry, specifically in the Refinery Development Master Plan (RDMP) of Dumai in Riau. The signing was carried out online witnessed by head of the Investment Coordinating Board Bahlil Lahadalia on May 20.

The state construction firm, PT Nindya Karya also involved in the deal. According to the agency, the Korean consortium was represented by DH Global Holdings Co. Ltd., a holding company involve in financial business.

The deal also inline with the government efforts to support the acceleration of the implementation of the mega project in the National Strategic Projects, as stated in Presidential Regulation Number 56 of 2018.