Pertamina Delegation Joins African Energy Week (AEW) 2024, Connecting Indonesian Companies to African Projects

Indonesia’s national oil company (NOC) Pertamina will lead a delegation to the African Energy Week (AEW): Invest in African Energy conference, taking place November 4-8 in Cape Town. Led by Wisnu Medan Santoso, Senior Vice President: Business Development at Pertamina, the delegation will explore new opportunities in African oil and gas as the country seeks to diversify its imports.

Once representing a major oil exporter, Indonesia has gained significant expertise in exploration and production. However, the country has seen production fall by 33% since 2010, owing largely to natural declines in ageing oilfields. As such, the country is seeking diversified imports, with the NOC expanding its footprint in promising markets such as those in Africa. At AEW: Invest in African Energy 2024, Pertamina will engage with public and private companies from across Africa’s oil and gas markets.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

Amidst population growth and a rise in economic activity, Indonesia expects its share of crude imports to increase from 41% to 82% by 2030 while the share of imported fuels will increase from 24% to 43% during the same period. While the country currently imports the majority of its crude from Nigeria ($3.6 billion); Saudi Arabia ($2.7 billion); and Angola ($800 million), to unlock new supply channels, Pertamina is increasing its investments across the African oil and gas value chain.

Upstream, the country’s NOC is ramping-up its merger and acquisitions while strengthening partnerships with African players. In August 2024, Pertamina signed an MoU with its Tanzanian counterpart the Tanzania Petroleum Development Company (TDPC) to collaborate in both upstream and downstream projects. The MoU serves to extend an existing agreement signed in 2023. In addition to project development, the MoU outlines collaboration in capacity building, knowledge-exchange and research. Pertamina also signed an agreement with Mozambique’s Buzi Hydrocarbons in 2023. The agreement outlines a joint commitment to explore oil and gas opportunities, including data sharing, gas power generation and upstream, midstream and downstream projects. The MoU will see the Pertamina support the development of the Buzi field in Mozambique.

Downstream, Pertamina signed a Joint Study Agreement with South African firm Guma for the development of gas-to-power in the country. The agreement will see the parties conduct feasibility studies for power generation projects, serving as a model for south-south cooperation in the fields of natural gas monetization. Meanwhile, in Kenya, the Indonesian NOC reached an agreement with Kenyan geothermal developers Geothermal Development Company and Africa Geothermal International. The agreement aims to accelerate the development of geothermal field development in the country, with exploration campaigns for two fields set to start in 2024. These are just some of the many projects Pertamina is driving in Africa, with AEW: Invest in African Energy 2024 serving as an instrumental platform to advance collaborations and investments.

“Indonesia offers a wealth of experience that will help drive oil and gas developments in Africa. With its proven track record in exploration and production, commitment to supporting hydrocarbon growth internationally and intention to collaborate and innovate, Pertamina can play an instrumental part in Africa’s hydrocarbon industry,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

Pertamina’s participation at AEW: Invest in African Energy 2024 will unlock new opportunities for Africa-Indonesia collaboration. By engaging with both public and private entities, exploring upcoming investment opportunities and showcasing their technology and expertise, the delegation is well-positioned to drive projects forward in Africa.

Distributed by APO Group on behalf of African Energy Chamber.