Pertamina New and Renewable Energy (Pertamina NRE), a unit of Indonesian state energy firm Pertamina, has signed a joint study agreement with Guma Africa Group to cooperate on a natural gas and power project, the company said on Tuesday.

The agreement was signed by Pertamina NRE's CEO John Anis and Guma Group's Executive Chairman Robert Gumede on the sidelines of Indonesia-Africa Forum being held in the resort island of Bali, Pertamina NRE said in a statement.

The agreement is aimed at studying the potential development of a gas-to-power project in South Africa, the statement said, as Pertamina NRE seeks to expand its global businesses.

Indonesia hosts the second Indonesia-Africa Forum this week and the Southeast Asian nation aims to sign business deals worth $3.5 billion with African counterparts during the conference.