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Jakarta Post

Indonesia inks oil deal with Angola

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Fri, October 31, 2014   /  08:26 pm

President Joko '€œJokowi'€ Widodo has signed a Memorandum of Understanding (MoU) forging an energy deal with the African nation of Angola.

'€œThis MoU between [state energy company] PT Pertamina and Angolan energy company Sonangol is the first official bilateral agreement of my government,'€ Jokowi said on Friday, as quoted by kompas.com.

The signing was attended by Angolan Vice President Manuel Domingos Vicente, as well as Foreign Minister Retno LP Marsudi, Energy and Mineral Resources Minister Sudirman Said and acting Pertamina president director Muhammad Husen, at Merdeka Palace.

Jokowi added that the cooperation between the two state-owned companies would involve petroleum production and crude oil imports, which would take place in a week'€™s time. The framework agreement between the two companies elaborates also on upstream production development.

Meanwhile, Husen said that the oil production projects were necessary for Indonesia to uphold sustainable energy.

'€œPertamina is optimistic that in the next five to six years, Indonesia will be a self-sufficient energy producer through this deal,'€ Husen said, adding that fuel consumption in Indonesia grew by 8 percent per year, while crude oil production rates were not increasing. (dyl/dic)(+++)

 

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