Joint Study Agreement (JSA)
No. 577 / D00000 / 2001-S1
Perusahaan Pertambangan Minyak Dan Gas Bumi Negara (Pertamina)
Feasibility Study of Gas to Liquids Technology Project
JOINT STUDY AGREEMENT (JSA)
This Joint Study Agreement ("JSA") is made and entered into this 2nd day of October, year two thousand and
one, by and between:
1. PERUSAHAAN PERTAMBANGAN MINYAK DAN GAS BUMI NEGARA (PERTAMINA), a State
Oil and Gas Enterprise established by virtue of and existing under the Law No. 8/1971 of the Republic of
Indonesia, having its domicile at Jalan Medan Merdeka Timur 1A, Jakarta Pusat 10110, Indonesia, in this matter
represented by Iin Arifin Takhyan in his capacity as Corporate Senior Vice President Upstream, hereinafter in
this Joint Study Agreement called PERTAMINA.
2. RENTECH Inc., a corporation established under the Laws of the State of Colorado, USA, and having its
principal office at 1331 17th Street, Suite 720 Denver, CO 80202, USA in this matter represented by Dennis L.
Yakobson in his capacity as President, hereinafter in this Joint Study Agreement called RENTECH.
Both are, individually hereinafter referred to as PARTY and collectively as
Whereas, PERTAMINA as the State Enterprise has the rights to mine for mineral oil and natural gas in Indonesia
which include exploration, exploitation, processing, transportation and marketing of oil and natural gas products in
Whereas, in an effort to increase the revenue obtained from natural gas utilization, PERTAMINA recognizes the
abundance of natural gas resources in Indonesia which are potentially possible to be developed through the
implementation of Gas to Liquids (GTL) technology, and
Whereas, RENTECH, is a company recognized for its experience, ability, and expertise in the development and
application of GTL proprietary technology and existing patents, and able to issue a license for the use of this
Whereas, PERTAMINA a