Breaking News
Image credit : ESDM Ministry

UAE looking to invest US$5 billion in Indonesia’s energy, infrastructure sector

JAKARTA (RambuEnergy.com) – United Arab Emirates is considering to add its investment in Indonesia by US$5 billion in energy, infrastructure and agriculture. The plan was revealed by the visiting UAE Energy Minister Suhail Mohamed Al Mazroei.

The minister is visiting Indonesia to attend the Second Republic of Indonesia-United Arab Emirates Economic Task Force in Jakarta on May 18.

“In oil and gas sector, they are intersted to cooperate with Pertamina to jointly develop oil and gas blocks. There are 10 oil and gas blocks (available) and they can be discussed at B to B (business to business) level,” Indonesia’s Energy and Mineral Resources Minister Ignasius Jonan said.

Minister Jonan hopes the cooperation can go ahead well as UAE company Mubadala is already developing an oil and gas block, Ruby, in Makassar Strait.

In addition, both parties were also discussing over Indonesia’s plan to import LPG and crude oil from UAE, ADNOC.

Minister Suhail said his country sees additional investmen of up to US$5 billion in ports, energy, solar and conventional power, oil and gas as well as agricultural sector.

This will boost UAE’s investment in Indonesia to US$ 7 billion from US$2 billion at present.

The joint meeting was a follow up of similar meeting in Abu Dhabi on Jan. 17, 2017. (*)

Check Also

Chevron to offload its 25% stakes in South Natuna Sea Block B

JAKARTA (RambuEnergy.com) - Chevron Indonesia said it has decided to offload its 25% participating interest in ...

Leave a Reply

Your email address will not be published. Required fields are marked *