Jakarta – The government continues to encourage State-Owned Enterprises (BUMN) in the oil and gas sector to expand global expansion and investment, including in the United States (US). This step is in line with the long-term strategy to strengthen national energy resilience and increase the competitiveness of BUMN in the international market. Deputy Minister of Investment and Downstream/Deputy Head of the Investment Coordinating Board (BKPM) Todotua Pasaribu said that companies in the oil and gas sector have actually made many investments abroad. For oil and gas, among others, are subsidiaries of PT Pertamina. “Open a company or we look at the business line up, because actually some of our investments outside have already happened, one of which is the oil and gas industry through Pertamina’s subsidiary,” said Todotua. For state-owned companies in the oil and gas sector, the direction of investment will vary, it can be in the form of well acquisition, it can be upstream, or midstream. “But most of them are like that, you have references, so far our state-owned companies have had a strategy for investing outside like what,” he said. Indonesia’s investment in the US is carried out through various schemes ranging from direct investment to cooperation between entrepreneurs from both countries. Investments are made both through financing and human resource development or research and development (R&D). “In addition to the strategy of getting margin. We also have a strategy to gain leverage from technological knowledge research. That strategy, there is no problem,” said Todotua. Meanwhile, the Acting Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM), Tri Winarno said that the upstream oil and gas sector is the main focus. One of the targeted projects is the Pikka Project in Alaska, developed by Santos and Repsol. The project had attracted the interest of PT Pertamina Hulu Energi (PHE) last year to enter as a minority shareholder. Potential investment in the upstream. But not yet, right now it’s still in negotiations. It’s not fixed yet, it’s still being finalized,” said Tri. The government ensures full support in the form of economic diplomacy, regulatory facilitation, and strategic partnerships with related parties in the US. This effort is also expected to strengthen bilateral relations between Indonesia and the US, especially in the fields of energy and investment. With the spirit of collaboration and transformation, overseas investment becomes a bridge to bring long-term benefits to the national economy and energy security.
