Iraq and Indonesia discuss strategic cooperation in the oil and gas sector
Iraq and Indonesia discussed on Tuesday the possibility of strengthening strategic cooperation in the oil and gas sector, which would include Pertamina International Energy Company (PIEP).
These discussions took place during a meeting held in Jakarta on Tuesday between Deputy Minister of Energy and Mineral Resources, Yuliut Tanjung, and Deputy Minister of Exploration and Production Affairs at the Iraqi Ministry of Oil, Basim Mohammed Qadhir.
Tanjung said: “The Indonesian government is committed to promoting sustainable and mutually beneficial cooperation in the oil and gas sector, not only to enhance national energy security, but also to create added value for both countries through capacity building and knowledge transfer.”
Pertamina International Energy Company (PIEP) participated in the project due to its role as an operational provider in the oil and gas sector, particularly in supporting the development of oil and gas fields in Iraq, while promoting efforts to achieve energy self-sufficiency nationwide.
Indonesian-Iraqi cooperation in the oil and gas sector is currently being prepared through an intergovernmental memorandum of understanding that has been submitted to Iraq through diplomatic channels and is currently under discussion.
The scope of cooperation under discussion includes facilitating oil and gas trade and investment, promoting technology transfer and exchange of expertise, conducting joint research, and developing human capacity-building activities.
Furthermore, the cooperation also aims to provide opportunities for Indonesian state-owned companies to participate in oil and gas projects in Iraq, and to enhance coordination between stakeholders in both countries.
Other areas of cooperation discussed include capacity building (training and universities), seismic data research and management, and drilling.
Qadhir said: “The memorandum of understanding in the oil, gas and energy sector will provide opportunities for greater cooperation between the two countries in the energy sector.”
PIEP currently holds a 20% participating interest in one of Iraq's oil fields.
The Iraqi government invited Indonesia, through Pertamina, to jointly manage existing producing oil fields and explore potential “green” oil fields, as part of a joint project. link