UAE, Indonesia firms sign raft of deals

BOGOR / WAM

Corporate giants of the UAE that include Abu Dhabi National Oil Company (Adnoc), Mubadala, and global trade enabler DP World have signed slew of agreements with Indonesian companies, on Wednesday.
The signing of the pacts took place on the sidelines of the state visit by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Indonesia.
Adnoc signed a comprehensive strategic framework (CSF) with Indonesia’s energy company, PT Pertamina (Persero) to explore opportunities for collaboration across the oil and gas value chain in the United Arab Emirates, Indonesia and globally.
Dr Sultan Ahmed Al Jaber, UAE Minister of State and Adnoc Group CEO, and Nicke Widyawati, President Director and CEO of Pertamina signed the agreement.
As part of the CSF, Adnoc and Pertamina will evaluate collaboration opportunities across the upstream, midstream and downstream sectors. The scope of projects under consideration includes participation in the UAE’s upstream oil and gas sector, as well as refining and petrochemicals, LNG, LPG, aviation fuel and fuel retail opportunities in Indonesia. In addition, the two partners will explore other forms of strategic collaboration with respect to opportunities across transportation, trading and storage in the UAE, Indonesia and globally.
Pertamina is the state-owned energy company of Indonesia. The company operates an integrated business in the energy sector in Indonesia and is expanding its overseas presence. The company produces and distributes energy products such as fuel, lubricants, LPG, LNG, and petrochemicals.
Dr Al Jaber said, “We are pleased to sign this agreement building on the strong existing relationship between our two countries. Indonesia has a thriving industrial base and is a rapidly growing market for energy.”
Mubadala, OMV and petrochemical leaders PT Chandra Asri Petrochemical Tbk and PT Chandra Asri Perkasa signed a memorandum of understanding to explore opportunities for collaboration in the petrochemical sector in Indonesia.
The agreement was signed by Musabbeh Al Kaabi, CEO of Petroleum and Petrochemicals Mubadala Investment Company, Dr Rainer Seele, CEO of OMV and Erwin Ciputra, President Director of PT Chandra Asri Petrochemical Tbk and PT Chandra Asri Perkasa.
The memorandum of understanding affirms intention to explore potential opportunities for collaboration in the area of petrochemicals in Indonesia. The companies will set up working groups to jointly define a schedule for the evaluation of the opportunities.
Meanwhile, two preliminary agreements between global trade enabler DP World and Indonesia’s leading conglomerate Maspion Group were signed to create a $1.2 billion container port and industrial logistics park in East Java.
It is the first joint venture of its kind in the Indonesian transportation sector involving a private sector partnership between an FDI partner and a private sector Indonesian company in Maspion, within the context of cooperation in maritime services with the state-owned maritime services operator Pelindo III. Two term sheet agreements aim to create a modern, integrated container terminal and industrial logistics park, expected to play a vital role as a trade gateway for Eastern Java.

Sheikh Mohamed’s visit a ‘dream’ coming true: Indonesia envoy
DUBAI / WAM

The state visit of HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Indonesia was described by a top Indonesian diplomat as a ‘dream’ coming true. Husin Bagis, Ambassador of Indonesia to the UAE, said the visit will not only improve diplomatic ties between two countries, but also will expand trade and investment relations across multiple sectors including energy, petrochemicals, retail, ports and customs, tourism and finance.
Diplomatic relations between the two countries first began in 1976, with the former Indonesian President Suharto visiting the UAE in 1977, the ambassador said.