Axar.az
UP
21 November 2018


Indonesian energy ministry urges to invest in Azerbaijan

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

The energy ministry of Indonesia has urged the country’s state oil company Pertamina to acquire oil and gas blocks in Azerbaijan, Indonesian media outlets reported March 10.

Indonesian government is aware that domestic oil reserves of the country are limited, and would like state-owned oil and gas giant Pertamina to manage oil and gas blocks abroad, and one country with the potential for this plan to work is Azerbaijan.

“Potential oil supply from Azerbaijan is more than 50 million barrels,” the ministry’s Director General for Oil and Gas Affairs, I.G.N. Wiratmaja Puja said. “Also, operational and production costs in Azerbaijan are reasonable.”

He mentioned that Pertamina could learn from Petronas’ move into Azerbaijan, where the Malaysian oil and gas firm is acquiring part ownership in oil and gas blocks.

Azerbaijan produces 800,000 barrels of oil per day, he said.

“This is comparable to the amount of oil Indonesia produces, but the difference is that Azerbaijan has a much smaller population,” he said. “Daily oil consumption there is just 200,000 barrels, and the remainder is exported. Indonesia, meanwhile, does not produce enough oil to meet daily demand.”

“Since last year, the government has been importing crude oil directly from Azerbaijan,” Puja said. “So it would be a great opportunity if Pertamina, which was also involved in this business arrangement, could acquire stakes in oil and gas blocks there.”

Sudirman Said, the energy minister of Indonesia, confirmed this and claimed that Azerbaijan has already committed to supplying 1 million barrels of oil per month. Syamsu Alam, Pertamina’s Upstream oil and gas director, also supports the plan and has suggested that the oil from Azerbaijan might be used to supply Pertamina’s Cilacap refinery.

Date
2016.03.10 / 19:20
Author
Axar.az
Comments
See also

Saudi oil production surges to record

BTC operating expenditures decline by 14%

Shah Deniz increases gas production by 8%

SOCAR to build one more filling station in Kiev

Azerbaijani oil price goes down by 3%

Markets drop as tech slowdown fears grow

eBay - second-hand luxury watch market

Chinese companies under pressure

Bitcoin loses 30 percent in a week

Azerbaijani currency rates for today

Latest
 
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla