Pertamina-INA Explores Energy Sector Investment Cooperation

Source Press Release
Company PertaminaINA Group 
Tags Renewable Energy, Strategy - Downstream, Strategy - Upstream, Strategy - Corporate
Date May 19, 2021

PT Pertamina (Persero) and the Indonesia Investment Authority (INA) explore the potential for strategic investment partnerships in the energy sector. It includes renewable energy to achieve energy resilience and move the national economy.

Throughout 2020-2040, Pertamina, as an energy State-Owned Enterprise (SOE), will be running 14 National Strategic Projects and 300 other investment projects in the upstream, downstream and renewable clean energy sectors with a total budget of ~ USD92 billion, of which funding comes from internal and external sources. In addition, there are several Pertamina strategic project plans to optimize the value of  Pertamina Group.

Some of these projects have the opportunity to get funding from INA. As a result, Pertamina and INA signed a non-disclosure agreement (NDA) to further explore the potential for such collaboration. The signing was carried out by the President Director of  Pertamina, Nicke Widyawati, together with the Chairman of INA Board of Directors, Ridha Wirakusumah, on Wednesday, May 19, 2021.

Acting Senior Vice President of Corporate Communications & Investor Relations, Fajriyah Usman, said the investment made by Pertamina aims to increase oil and gas production and reserves. Therefore, it will reduce national oil imports and support the government's vision of realizing national energy resilience, adjusted to the national energy grand strategy to the front.

Despite the pandemic, said Fajriyah, Pertamina is committed to keeping all operational operations going, considering that  Pertamina's has a large ecosystem with 1.2 million employees. Therefore, this driving force must not be stopped to accelerate the National Economic Recovery.

"All Pertamina investments are open for cooperation with INA. We welcome this opportunity so that it can be implemented and have a positive impact on all parties," said Fajriyah.

On the same occasion, the Chairman of the INA Board of Directors, Ridha Wirakusumah, appreciated the cooperation that INA and Pertamina would conduct. According to him, through this collaboration, INA will work hard to build mutually beneficial partnerships, together with  Pertamina, for the future of national energy."

Pertamina is a large and very strategic company, so we are eager to participate and contribute. Therefore, strategic projects that are being carried out by  Pertamina are more successful because of their extraordinary positive impact on the country," said Ridha.

Source: EvaluateEnergy® ©2022 EvaluateEnergy Ltd