Indonesia Opens Oil Refinery Investment Opportunities with Saudi Arabia

oil Refinery

The Minister of Energy and Mineral Resources held a meeting with the Minister of Energy of the Kingdom of Saudi Arabia, HRH Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud. This meeting opened up opportunities for cooperation in several fields, such as investment in oil refineries.

The online meeting discussed increasing cooperation between the two countries in the energy sector, such as investment opportunities in petrochemicals, oil refineries, and power plants from new and renewable energy in Indonesia.

Abdulaziz said that the Kingdom of Saudi Arabia is ready to accommodate increased cooperation in energy, both conventional and renewable, with the Indonesian Government.

“Meanwhile, Abdulaziz said that Saudi Arabia opens the widest possible opportunities for cooperation and collaboration for the transfer of knowledge and technology as well as increasing awareness of the Circular Carbon Economy (CCE),” said Minister Arifin in a written release, Tuesday (8/11/2022).

Minister Arifin emphasized that the brotherly relationship between Indonesia and Saudi Arabia is very important.

“The Kingdom of Saudi Arabia in the energy sector has become the main partner of Indonesia’s cooperation, Saudi Arabia is a supplier of crude oil and refined products to Indonesia,” said Arifin.

Previously, the meeting between the two countries also discussed cooperation in the tourism sector.

Minister of Tourism and Creative Economy (Menparekraf Sandiaga Salahuddin Uno met with Saudi Arabian Tourism Minister Ahmed Al Khatiev on the sidelines of the 2022 World Travel Market (WTM) tourism exchange in London, Monday (7/11/2022).

On that occasion, the two of them talked about various things related to tourism development and exchanged ideas about the transformation of tourism in each country. In addition, at the same time signed an MoU related to tourism collaboration between the two countries. Both also agreed to collaborate to create job opportunities.

“On the sidelines of the World Travel Market, I had the opportunity to exchange ideas with the Minister of Tourism from Saudi Arabia who told me about the transformation of tourism in Saudi, which can be collaborated with Indonesia, especially concerning the large number of Umrah pilgrims who are expected to also trigger cooperation in terms of opportunities. “Our creative economy opportunities, especially in several big cities in Saudi,” said Sandiaga at ExCeL London, England, Monday (7/11/2022).

Sandiaga said these opportunities, including in the creative economy sub-sector, namely culinary to fashion. In addition, Sandiaga also discussed Saudi Arabia’s interest in investing in infrastructure.
Among them is the cable car project on the Puncak line, West Java, which is expected to be able to break down congestion due to the high interest of the public to spend holidays there.

“We discussed the cable car which will connect several tourist destinations in Puncak and other destinations, as well as his invitation to review the global academy for tourism which will be established in Riyadh,” said Sandiaga.