CORE COMPETENCIES AND CAPABILITIES: PIEP EXPLORES BUSINESS OPPORTUNITIES IN THE AFRICAN CONTINENT
Johannesburg - PT Pertamina Internasional Eksplorasi dan Produksi (PIEP), a subsidiary of Pertamina's Upstream Subholding, along with PT Pertamina (Persero) as the holding company, accompanied the President of the Republic of Indonesia, Joko Widodo, on his visit to four African countries: Kenya, Tanzania, Mozambique, and South Africa. The visit brought forth a spirit of collaboration, aimed at enhancing bilateral relations with each country and expanding potential business partnerships in upstream, midstream, downstream, and geothermal sectors.
During the visit to Kenya, PIEP signed a cooperation agreement with the National Oil Corporation Kenya (NOCK) concerning access to oil and gas field data and information, as well as the potential for collaboration in exploration activities in frontier or producing areas.
In Tanzania, the parent company of PIEP, Pertamina, signed a Memorandum of Understanding (MoU) with the Tanzania Petroleum Development Company (TPDC) in the field of upstream and downstream oil and gas exploration and production in the Tanzanian region.
Meanwhile, in Mozambique, PIEP entered into a non-binding MoU with Buzi Hydrocarbons Pte Ltd (BHPL) regarding potential collaboration in the oil and gas sector, spanning upstream, midstream, downstream, and gas-fired power generation.
"Pertamina opens opportunities for collaboration, and Africa presents businesses that align with and are needed by Pertamina. We have the experiences, competencies, and capabilities to undertake them," stated Nicke Widyawati, CEO of Pertamina.
"With the spirit of 'bring the barrel and value home', PIEP's footprint in the upstream sector enhances production to be refined in Pertamina's domestic refineries, thereby enhancing national energy resilience," she added.
Jaffee A. Suardin, President Director of PIEP, revealed that the collaborative initiative of Pertamina Group with the four African countries aligns with Pertamina's role as a state-owned enterprise continously expanding with a Go Global spirit.
"Why Africa? Because the African continent holds significant oil reserves. Supported by production experience and PIEP's footprints in Tanzania, Gabon, and Algeria, the believes that those assets are crucial for PIEP long term strategy."
PIEP is optimistic that its portfolio management of operational work areas spanning 12 countries across four continents will further bolster its expansion in field development. Thus, through new collaborations in upstream oil and gas exploration and production in Africa, production would increase as part of the national energy resilience effort. In 2022, PIEP's production performance contributed 29% to oil and 15% to gas production within the Upstream Subholding Pertamina.
