Energy and Mineral Resources Minister Ignasius Jonan receives a visit of the UAE Energy and Industry Minister Mohamed Faraj Al Mazrouei at his office in Jakarta. (Image credit: Energy and Mineral Resources Ministry via ANTARA).

Indonesia: Government sets a target of US$5 billion on the UEA’s oil and gas investment

Faradita Prayusti
Market & Investment
New Investment
Jul 07, 2019
2325
The partnership between Indonesia and the United Arab Emirates (UEA) is going to be closer, as the Minister of Indonesia’s Energy and Mineral Resources Ignasius Jonan targeted to obtaining investments value US$5 billion from the cooperation between the two countries.

Minister Jonan through a written statement said that in accordance with Joko Widodo’s, the President of Indonesia, instruction to attract investment on energy sectors (oil and gas) and other sectors from the Middle East and the UEA. The discussion on the investment with the total target of US$5 billion is still under discussion, added the minister.

As a follow-up to the joint economic task force between the nations, a bilateral meeting on economic partnership was held between the Minister Jonan and Minister Suhail Mohamed Faraj Al Mazrouei - the UEA’s Energy and Industry Minister, during his paid visit in Jakarta.

According to the Energy and Mineral Resources Ministry’s written statement released on Friday, a visit from the UEA delegation was an important part of the partnership in the energy sector and other strategic sectors and Indonesia was also optimistic that the cooperation would work well, therefore both of the countries will gain a positive impact on investment potentials.

During the meeting, Minister Jonan underlined the need of 500 more gas stations in Indonesia that will be built in various areas in the country.

Pertamina was mentioned to hold a discussion with the UEA regarding the investment and production on oil and gas.

Another potential cooperations are in infrastructure, finance and tourism sector since the UEA is interested in investing in these particular areas, added Minister Jonan.

The discussion on investment with the UEA was not the first time for Indonesia. Previously in 2017, Indonesia targeted investments worth $10 billion from the UEA in various fields, including oil and gas, power generation and hospitality, according to Husin Bagis, the ambassador of Indonesia for the UEA, cited Gulf News.

The government never stop to attract investors to invest in Indonesia and to enhance its cooperation with other nations as it is one of the government’s ways to offer more job opportunities in Indonesia.

Source: https://en.antaranews.com/news/128452/indonesia-targets-us5-billion-oil-and-gas-investment-from-uae

Indonesia , UEA , Oil , Gas , Investment , Partnership , Cooperation , Economic