Pertamina's Cooperation with UAE Companies Announced at President Jokowi and MBZ's Meeting

November 15, 2022 - Pertamina cooperates with several companies from the United Arab Emirates (UAE) to develop energy potential and refinery production in Indonesia. This commitment was announced in front of President Joko Widodo and the President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan.

The previously signed cooperation commitment was re-announced on the sidelines of the Business 20 (B20) peak activities in Nusa Dua, Bali, Monday (14/11/2022). Present at the cooperation commitment announcement were President Joko Widodo; President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan; Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan; Minister of Foreign Affairs, Retno LP Marsudi; Minister of Environment and Forestry, Siti Nurbaya Bakar; Minister of Public Works and Public Housing, Basuki Hadimuljono; and Coordinating Minister for Economic Affairs, Airlangga Hartarto; and CEO of Masdar, Mohammed Jameel Al Friendly.

Two companies from the United Arab Emirates are collaborating with Pertamina. Namely Masdar, the world's leading renewable energy company, and the Abu Dhabi National Oil Company (ADNOC). The cooperation commitment signing has been previously carried out in the UAE.

The collaboration between Pertamina through Pertamina Power and New Renewable Energy (PNRE) and Masdar is a Solar Power Plant (PLTS) development in the Rokan Block with a 2-year cooperation agreement period starting from November 12, 2022 to 2024. PNRE and Masdar will work together to provide reliable and competitive solutions in the PLTS Rokan Phase 2 and Phase 3 development at the Rokan WK.

"This strategic collaboration between Pertamina NRE and Masdar will have the potential to accelerate the energy transition," said the President Director of Pertamina, Nicke Widyawati.

To note, PLTS Rokan Phase 2 is under study with a potential capacity of up to 50 MWp with an estimated total investment value of 47 million USD. Meanwhile, PLTS Rokan Phase 3 has a potential capacity of up to 150 MWp with an estimated total investment value of 140 million USD. This cooperation does not rule out the possibility of developing other PLTS within Pertamina.

Pertamina Power Indonesia (PPI), as PNRE's operator, will form a joint venture with Masdar with ownership composition in the cooperation, namely PPI 55% and Masdar 45%. Meanwhile, the Solar PV offtaker is PT Pertamina Hulu Rokan (PHR), with cost savings benefits, a reduction in CO2 footprint of up to 184,000 tons per year, and a reduction in gas consumption of up to 2816 MMSCF per year.

Moreover, PPI and Masdar also exchanged documents related to the Memorandum of Understanding for the Renewable Energy Projects Development in Indonesia. These projects include new and renewable energy (NRE) projects development and information sharing for project feasibility evaluation and analysis.

Not only with Masdar, but Pertamina also collaborates with ADNOC regarding the potential for cooperation in polyolefin production in Indonesia. The agreement period is for a year (November 12, 2022 – 2023).

Meanwhile, the cooperation potential areas are exploring opportunities for participation in cracker projects & new derivatives of the PT Kilang Pertamina International (KPI) Polyolefin project in Indonesia, where ADNOC is interested in using ADNOC technology for Polyolefins, the potential for marketing Polyolefin products by ADNOC and feedstock supply such as naphtha, LPG, and propane.**

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