Top oil producing countries ready to supply crude to Indonesia
Friday, June 5 2015 - 11:30 AM WIB
The countries are Saudi Arabia, Kuwait, Iraq and Angola. The countries expressed the commitment during bilateral meeting with Minister of Energy and Mineral Resources Sudirman Said in a recent meeting in Vienna, Austria.
During the meeting with Angola?s Petroleum Minister Jos? Maria Botelho de Vasconcelos. Sudirman said Indonesia needs more crude supply from Angola in the future as Indonesia plans to double the capacity of its refineries from 800,000 bopd to 1.6 million bopd. At present, Angola exports 1 million barrels per month to Indonesia.
Both ministers also agreed to push the national oil companies of each country, PT Pertamina and Sonangol, to cooperate in oil exploration in Angola and build a refinery in Indonesia. The existence of a refinery built by both companies will ensure Angola has a buyer for its crude on the long term basis.
In the meeting with Sudirman, Saudi Arabia?s Minister of Petroleum Ali Al-Naimi expressed appreciation for Indonesia?s intention to re-enter the Organization of Petroleum Exporting Countries (OPEC), noting that Indonesia was one of the founders of the organization. He also promised to push the country?s NOC Saudi Aramco to invest in Indonesian?s refineries.
Kuwaiti delegation also promised to encourage its national firms to invest in Indonesia, while Sudirman asked Kuwait to provide chances for Indonesia to invest in the country?s upstream sector and to provide crude for Indonesia.
In the meeting with Iraqi delegation, Sudirman asked the country to increase its crude exports to Indonesia and offer the country to build a refinery in Indonesia. Meanwhile, the Iraqi government offers Pertamina to expand its investment in the country?s upstream sector. At present, Pertamina has an interest in West Qurna in partnership with Lukoil and LITASCO with a production of 1 million barrels of oil per month.
Editing by Johannes Simbolon