Jakarta – In a strategic move, a consortium of Indonesian and United States (US) energy companies has signed a Memorandum of Understanding (MoU) for the exploration and development of oil and gas (O&G) resources. This collaboration aims to strengthen national energy resilience and open new investment opportunities in the O&G sector.
Deputy Minister for Investment and Downstreaming/Deputy Head of the Investment Coordinating Board (BKPM), Todotua Pasaribu, stated that many companies in the O&G sector have already made investments abroad, including subsidiaries of PT Pertamina, Indonesia’s state-owned energy company.
“Look at the company or business lineup — in fact, some of our overseas investments have already happened, including in the oil and gas industry through Pertamina’s subsidiaries,” said Todotua.
For state-owned enterprises (SOEs) in the O&G sector, investment strategies will vary. This may include well acquisitions, upstream, or midstream projects.
“For the most part, that’s the approach. You all have references — our SOEs have a strategic history of investing abroad,” he added.
Meanwhile, Pertamina’s Vice President of Corporate Communication, Fadjar Djoko Santoso, said the company is still awaiting direction from the government.
“Pertamina is open to cooperation or investment with partners, including US companies, for the mutual benefit of both sides,” said Fadjar.
Additionally, the Acting Director-General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM), Tri Winarno, noted that the upstream O&G sector remains the main focus.
One of the targeted projects is the Pikka Project in Alaska, developed by Santos and Repsol. The project previously attracted the interest of PT Pertamina Hulu Energi (PHE) to acquire a minority stake.
“There is potential investment in the upstream sector. But it’s not finalized yet, we are still in negotiations and finalizing the details,” Tri explained.
The government has assured full support in the form of economic diplomacy, regulatory facilitation, and strategic partnerships with relevant parties in the US. This effort is also expected to strengthen Indonesia-US bilateral relations, particularly in energy and investment.
Through this collaboration, Indonesia is increasingly demonstrating its commitment to utilizing cutting-edge technology in the energy sector and tapping into global market potential for more sustainable O&G development.
