IAF 2024: Indonesia Capai The Energy Sector Investment Agreement Around IDR 23.3 Trillion

President Joko Widodo in Indonesia Africa 2nd Forum. (Source: Media Center of IAF II-HLF MSP/Nyoman Hendra Wibowo/YU/Int.)

"Indonesia has succeeded in reaching an investment agreement of around IDR 23 trillion in the 2nd Indonesia Asia Forum (IAF)," said Directorate General of Asia, Pacific and African Ministry of Foreign Affairs of the Republic of Indonesia Dewi Justicia Meidiwaty in Nusa Dua, Bali, Tuesday.

He explained that in the event which was held on September 1-3, Indonesia recorded an investment agreement in the energy sector worth a total of 1.5 billion US dollars (Rp.23,352,675,000,000), which was recorded by state-owned and private companies.

"This is certainly a promising achievement of the 2024 IAF deliverables agreement target worth a total of 3.5 billion US dollars," said Meidiwaty, in a statement from the Indonesian Ministry of Foreign Affairs, Tuesday, September 3.

He further explained that several agreements were reached, among others, the signing of a training contract between PT. Pertamina Training & Consulting (PTC) and Petrofound Namibia which will be carried out at the Integrated Drilling Training Center (IDTC), Indonesia.

With Tanzania, he continued, PT Pertamina has received a 60 percent redistribution of Wentworth Resources' shares in the Mnazi Bay gas block.

In addition, there is also PT PLN which has collaborated in developing geothermal energy with Tanesco and Tanzania Geothermal Development Company/TGDC with a development target of 225 MW in Natron, Luhoi and Ngozi.

"Tanesco has also visited PT PLN to further explore the potential for developing geothermal energy in Indonesia," he explained.

Various agreements between Indonesia-Tanzania are also the result of the follow-up to the visit of the President of the Republic of Indonesia to Tanzania on August 21-22, 2023 which resulted in a number of cooperation commitments, especially in the energy sector.

Not only BUMN, the private sector has also succeeded in achieving investment value with Africa, including PT Energi Mega Persada (EMP) with Vutomy Energy through a 500 megawatt independent Power Plant (IPP) commercialization cooperation.

He added that apart from the agreement between Indonesia and African countries, the 2nd IAF is also a forum that facilitates agreement between African countries.

"One of them is the commitment to cooperation between Mozambique and South Africa through the Memorandum of Understanding between Buzi Hydrocabon Pte., Ltd., and Guma Africa Group Ltd., regarding the exploration and commercialization of the EPCC Buzi gas," he said.

He added that a number of agreements in the energy sector further strengthened Indonesia-Africa's cooperation in securing energy supply and resilience, amidst uncertain global geopolitical conditions.

"Energy resilience is very important for stability and economic development, especially for Indonesia-Africa," said Meidiwaty.

The agreed cooperation commitment is expected to strengthen Indonesia-Africa relations, to face the common future for the alignment of Indonesia Gold's vision 2045 and the Africa Agenda 2063.