Pertamina, INA Explore Energy Investment

TEMPO.CO, Jakarta - State-owned gas and oil company Pertamina and Indonesia Investment Authority (INA) explored the potential for strategic investment partnerships in the energy sector, including renewable energy, in a bid to achieve energy security and drive the national economy.

“Pertamina is open for cooperation with INA. We welcome this opportunity to be realized and bring a positive impact on all parties,” said the corporate spokesperson Fajriyah Usman on Thursday, May 20, 2021.

Throughout 2020-2040, Pertamina is running 14 National Strategic Projects and 300 other investment projects in the upstream and downstream sectors, as well as the clean renewable energy sector, with a total budget of around US$92 billion from internal and external sources. Pertamina also has strategic project plans to optimize the value of its group.

Some of those projects have the potential to receive funding from INA. Thus, Pertamina and INA signed a non-disclosure agreement (NDA) to explore the potential ties in more detail. The deal was inked by Pertamina President Director Nicke Widyawati and INA Chairman of the Board of Directors Ridha Wirakusumah on Wednesday, May 19, 2021.

Fajriyah said the investment made by Pertamina aimed at increasing oil and gas production and reserves to reduce oil imports and support the government's vision of realizing national energy security which is adjusted to the national energy grand strategy.

Read: Jokowi Inaugurates Indonesia Investment Authority Supervisory Board

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