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Indonesia signs multiple deals with UAE

The energy industry in Indonesia is up for some big changes, as the country has signed 11 business deals worth 314.9 trillion rupiahs ($23 billion) with the United Arab Emirates. These deals involve multiple investments in energy and other sectors. 

The two countries signed multiple memorandums in the presence of Mohamed bin Zayed al Nahyan, crown prince of Abu Dhabi and Joko Widodo, Indonesia’s President. They were also announced by President Widodo on his Twitter account.

The memorandums include a major deal between Abu Dhabi National Oil Company (ADNOC) and Indonesia’s Pertamina and includes multiple projects to explore potential development of crude to petrochemicals complexes in Balongan and sales agreements concerning the downstream sector in Indonesia. 

Talks are on about floating solar panels, power sector and other areas involving the oil and gas value chain as well. The petrochemicals complex will be based on the comprehensive framework agreement signed by ADNOC and Pertamina last year.

Speaking on the agreement, ADNOC’s chief executive Sultan al Jaber said, “The agreements signed with Pertamina and Chandra Asri will potentially help ADNOC to secure additional in-market presence in one of South-East Asia’s fastest-growing economies, enabling new domestic value-creation opportunities across the hydrocarbon chain.”

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