Financial News
Pertamina explores energy cooperation in Africa, supports President's visit
August 23, 2023 at 07:38 AM EDT
NAIROBI, Kenya, Aug 23, 2023 - (ACN Newswire) - PT Pertamina (Persero) and its sub-holdings have initiated several potential strategic collaborations with several energy companies in Africa, including in the upstream oil and gas sector, infrastructure development, processing refineries, potential downstream product distribution collaborations, and the development of new and renewable geothermal energy.
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| Kenya: Pertamina Geothermal Energy (PGE) Tbk, signed an MoU with Africa Geothermal International Limited (AGIL) on August 20, for technology development and resource utilization in geothermal. |
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| Several collaborations were launched by the Pertamina Group in Africa, along with the visit of the Indonesian President, Joko Widodo, on August 20 - 24, 2023. [Image: Pertamina] |
In Kenya, Pertamina, through PT Pertamina Geothermal Energy (PGE) Tbk, signed a Memorandum of Understanding (MoU) with Africa Geothermal International Limited (AGIL) on Sunday, August 20, 2023, for technology development and resource utilization in geothermal. With this collaboration, PGE will have the opportunity to study infrastructure development, implement geothermal technology in Indonesia, and expand geothermal development in Kenya.
"Several collaborations that will be launched by the Pertamina Group in Africa, along with the visit of the President of the Republic of Indonesia, Joko Widodo, on August 20 - 24, 2023, will become one of the mainstays in the energy sector for the country. This collaboration can strengthen cooperation between African countries and globally," President Director of Pertamina Nicke Widyawati said during her visit to Kenya, Africa, on Monday (21/8).
In the upstream business, the upstream sub-holding subsidiary, PT Pertamina Internasional EP (PIEP), is exploring the potential for cooperation with the National Oil Corporation of Kenya (NOCK). This exploration is the first step for Pertamina's upstream footprint abroad, strengthening national energy security.
"Spirit brings the barrel home; Pertamina's footprint in the upstream sector is to increase production so that it can be processed at Pertamina's domestic refineries," Nicke said.
Nicke revealed that Pertamina also has opportunities to expand in various energy fields with the government-to-government (G-to-G) collaboration between the Government of Indonesia and the Government of Kenya. This bilateral cooperation also opens investment opportunities and collaboration for Pertamina in the African region.
"We appreciate the role of the government, including the Coordinating Ministry for Maritime Affairs and Investment, the Ministry of Foreign Affairs, and the Ministry of Energy and Mineral Resources, in supporting Pertamina's expansion efforts on the global stage," she explained.
Before the visit, Pertamina had a Memorandum of Understanding with GUMA, an African energy company, regarding strategic alliances for potential upstream, midstream, and downstream business projects.
The collaboration includes the exploration and production of oil and gas fields, the development of oil and gas pipelines, and the development of oil and petrochemical refineries. Apart from that, Pertamina also trades petroleum products in Kenya. According to Nicke, cooperation beneficial to the Indonesian state will be prioritized in every collaboration carried out by the Pertamina Group.
"We bring the government's spirit, the spirit of the 1955 Asian-African Conference. We are now working together on economic development. Pertamina opens opportunities for cooperation in the upstream and downstream sectors, including geothermal in Kenya," Nicke said.
Meanwhile, Vice President of Pertamina, Fadjar Djoko Santoso, added that Pertamina had brought several sub-holdings to explore the potential for cooperation in Africa. These collaborations will further strengthen national energy security and realize the company's role as a global energy company. "We are open to all business cooperation opportunities that positively impact Pertamina and the country," Fadjar said.
Pertamina, as a leader in the field of energy transition, is committed to supporting the Net Zero Emissions 2060 target by continuing to encourage programs that have a direct impact on the achievement of the Sustainable Development Goals (SDGs). These efforts align with implementing environmental, social, and governance (ESG) in Pertamina's business lines and operations.
Media Contact:
Fadjar Djoko Santoso
Vice President Corporate Communication
PT Pertamina (Persero)
M. : +62 813-2063-0765
E. : fadjar.santoso@pertamina.com
Source: PT Pertamina
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