REPUBLIKA.CO.ID, SURABAYA -- State oil and gas firm, Pertamina will review the proposed cooperation plan with Saudi oil company Aramco, the company's Corporate Secretary, Wisnuntoro said.

"We are studying several aspects of the cooperation plan. There are certain demands that have been made by Aramco, but we are still evaluating them, such as a tax holiday for a period of 20 years. They are also interested to doing business in the downstream oil sector," said Wisnuntoro on Saturday.

He said the deal with the Saudi company is now entering the negotiation phase and it is expected that the two sides will find some common ground so that the negotiations can be continued further, leading up to the signing of an agreement.

He added that Pertamina did not want to suffer any losses in its cooperation with any parties, let alone be cheated through a disadvantageous agreement system.

"We do not want to repeat the experience Pertamina had in a similar deal with Shell," Wisnuntoro said.

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