The energy cooperation between Indonesia and Saudi Arabia under the memorandum of understanding (MoU) covers the fields of oil and gas, electricity, renewable energy, as well as energy efficiency and clean hydrogen.

Jakarta (Indonesia Window) – Energy cooperation between Indonesia and Saudi Arabia has been further strengthened by the signing of a Memorandum of Understanding (MoU) by Indonesian Minister of Energy and Mineral Resources Arifin Tasrif and Saudi Minister of Energy Abdulaziz bin Salman at St. Regis Hotel, Nusa Dua, Bali, Wednesday (Nov. 16).

"The aim of the MoU is to establish a general framework for cooperation in the energy sector based on the principles of equality, mutual benefit and mutual respect," Arifin said before signing the MoU.

The areas of cooperation agreed in the MoU include oil and gas, electricity, renewable energy, as well as energy efficiency and clean hydrogen.

In addition, the cooperation in the energy sector between the two countries also covers the circular carbon economy (CCE) and its technology to reduce the impacts of climate change, as well as digital transformation, innovation, cybersecurity and artificial intelligence in the energy sector.

To implement the areas of cooperation that have been agreed upon, a number of activities will be carried out including information and experiences exchange, visits exchange between experts and specialists, work conferences and seminars, joint studies, and cooperation between energy companies.

"Besides, the two countries also agreed to develop a qualitative partnership to localize materials, products and services related to all sectors of the energy, supply chain and technology, as well as the development of the chemical industry," Arifin explained.

As an initial follow-up to the MoU, a special working team consisting of representatives of both parties with the same number of members will be formed. The team aims to hold consultations on procedures and steps that need to be taken to strengthen and develop cooperation under the MoU.

Reporting by Indonesia Window