Friday, April 19, 2024

Indonesia and Tanzania strengthen energy investment cooperation

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In a significant move to enhance bilateral ties, President Joko ‘Jokowi’ Widodo and his Tanzanian counterpart President Samia Suluhu Hassan sealed an agreement on strengthening cooperation in oil and gas sector in a ceremony at the Bogor Presidential Palace on Thursday, January 25, 2024. 

President Jokowi revealed that PT Pertamina has expanded its partnership with Tanzania Petroleum Development Corporation (TPDC) in the Mnazi Bay gas field. 

“Pertamina has extended cooperation in Mnazi Bay, and training for TPDC employees has already commenced,” Jokowi said in a media statement broadcasted by the Presidential Secretariat’s YouTube channel on Thursday.

The Mnazi Bay Development Area, which is situated in Mtwara, Southern Tanzania, approximately 410 kilometers south of Dar es Salaam, spans an expansive 756 square kilometers.

PT Pertamina secured the development concession for the Mnazi Bay block through its subholding Upstream PT Pertamina Internasional Eksplorasi Produksi (PIEP), after completing the acquisition process of Maurel & Prom S.A. (M&P), a subsidiary of Wentworth Resources Plc (Wentworth). Both parties agreed to co-manage Mnazi Bay with TPDC on December 5, 2022.

President Jokowi expressed hopes for the energy collaboration between Indonesia and Tanzania to extend into the liquefied natural gas (LNG) sector. 

“Indonesia looks forward to negotiations between Medco Energy for LNG cooperation and Sinka Sinye Agrotama’s investment plan in the fertilizer sector to materialize soon,” said Jokowi.

President Samia Suluhu Hassan said she was optimistic on the strengthening of bilateral energy cooperation, hoping that this collaboration agreement would serve as an entry point for private Indonesian investors in Tanzania. 

“I believe this agreement will open up more opportunities for Indonesian investors in Tanzania. We declare our readiness to embrace Indonesia’s experience in renewable energy,” stated Samia.

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