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Indonesia, Papua New Guinea Sign MoU on Energy

18 June 2013 18:24 WIB

Presiden Susilo Bambang Yudhoyono. TEMPO/Subekti

TEMPO.CO, Jakarta - Indonesia and Papua New Guinea have agreed to conduct a joint exploration for oil, gas, and minerals located in the borders of the two countries. The cooperation was marked with the signing of a MoU between Indonesian President Susilo Bambang Yudhoyono and the Papua New Guinea Prime Minister Peter ONeill at the Presidential Palace, Jakarta, on Monday, June 17.

"We have agreed to improve good cooperation in the energy sector. Both countries have a substantial amount of oil and natural gas. This can improve bilateral economy," said President Susilo Bambang Yudhoyono after signing the MoU at the Presidential Palace on Monday, June 17.

The Energy and Mineral Resources Minister Jero Wacik stated that the oil and gas joint exploration between Indonesia and Papua New Guinea will take place in the borders of the two countries. The Minister informed that both countries have conducted surveys on oil and gas reserves in the border areas. He added that the survey revealed substantial amount of oil and gas.

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