"With Indonesia joining BRICS, we can cooperate and help each other in investments (in the oil and gas industry)," SKK Migas Head Djoko Siswanto stated here on Thursday.
Apart from bolstering investments, Siswanto highlighted that Indonesia's membership in BRICS will unfold new opportunities for exchanges in technology and human resources in the oil and gas sector among member countries.
The BRICS, originally comprising Brazil, Russia, India, China, and South Africa, has expanded to include 10 nations, now representing 40 percent of the global population, including Indonesia and other emerging markets in the Middle East.
Regarding oil and gas export potential to BRICS countries, Siswanto stated that Indonesia's current priority is fulfilling domestic demands.
"Our oil is prioritized for domestic use, but we do export our gas," he remarked.
Brazil, serving as the BRICS chair in 2025, officially recognized Indonesia as the bloc's newest full member on Monday (Jan 6). They also acknowledged Indonesia's support for priority issues brought up during Brazil's chairmanship this year.
Indonesia's inclusion in the economic bloc may also open new opportunities to acquire Russia's oil at potentially lower prices.
Nonetheless, National Economics Council (DEN) chairperson Luhut Binsar Pandjaitan emphasized that his side is still evaluating the pros and cons of importing oil from Russia.
"As long as it benefits the Republic of Indonesia, we can consider that. If we can secure their oil for US$20 or US$22 less (per barrel), then why not?" Pandjaitan stated at a press conference on Thursday.
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Translator: Putu Indah S, Nabil Ihsan
Editor: Azis Kurmala
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