The discussion took place during a meeting between the Deputy Minister of Energy and Mineral Resources (ESDM), Yuliot Tanjung, and the Deputy Minister of Upstream Affairs, Ministry of Oil of Iraq, Basim Mohammed Kudhair, in Jakarta on Tuesday.
"The Indonesian government is committed to promoting mutually beneficial and sustainable oil and gas cooperation, not only to strengthen national energy security but also to provide added value for both countries through capacity building and knowledge transfer," Tanjung said in Jakarta on Tuesday.
Pertamina International EP (PIEP) was involved because of its role as an operational executor in the upstream oil and gas sector, particularly in supporting the development of oil and gas fields in Iraq, while simultaneously strengthening efforts to achieve Astacita and national energy self-sufficiency.
Indonesia-Iraq cooperation in the oil and gas sector is currently being prepared through an intergovernmental Memorandum of Understanding (MoU) that has been submitted to Iraq through diplomatic channels and is currently under discussion.
The scope of the cooperation discussed includes facilitating oil and gas trade and investment, enhancing technology transfer and expertise exchange, conducting joint research, and enhancing human resource capacity-building activities.
Furthermore, the cooperation is also aimed at opening opportunities for the participation of Indonesian state-owned enterprises in oil and gas projects in Iraq and strengthening coordination between agencies from both countries.
Other areas of cooperation discussed include capacity building (training and universities), seismic data study and management, and drilling.
"The MoU in the oil and gas and energy sector will open up opportunities for greater cooperation between the two countries in the energy sector," Kudhair said.
PIEP currently holds a 20 percent participating interest in one of Iraq's oil fields.
The Iraqi government invited Indonesia, through Pertamina, to manage existing producing oil fields and jointly explore potential “green” oil fields under a joint venture scheme.
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Translator: Putu Indah Savitri, Cindy Frishanti Octavia
Editor: Azis Kurmala
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