ASIATODAY.ID, JAKARTA – Kuwait Foreign Petroleum Exploration Company (KUFPEC) plans to invest up to US$ 10 billion in the oil and gas sector in Indonesia.
This was conveyed by the Indonesian Ambassador to Kuwait, Lena Maryana in a meeting with Commission XII of the House of Representatives of the Republic of Indonesia, at the Nusantara III Building, Jakarta, Tuesday, January 7 2025.
Chairman of Commission XII of the House of Representatives of the Republic of Indonesia, Bambang Patijaya, welcomed investment opportunities from Kuwait. This investment plan is considered to be in line with the government’s target to realize energy self-sufficiency while supporting the economic growth target of 8% in the next five years.
“As a commission in charge of energy, energy self-sufficiency is part of President Prabowo’s Asta Cita which we must support. This investment is a good opportunity for Indonesia, including supporting the realization of the energy self-sufficiency target,” said Bambang.
Bambang explained that the government, through the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), had opened several oil and gas blocks for investment.
Currently, Kuwait has acquired two blocks and previously invested in the Natuna Block.
Bambang emphasized the importance of facilitating the acceleration of investment from Kuwait so that it is more massive and concrete.
“We are ready to be present as problem solvers to find solutions to investment obstacles, not only carrying out legislative, budget and supervisory functions,” he stressed.
Bambang also added, based on the Ministry of Investment’s scheme, investment growth is projected to reach IDR 3 thousand trillion in 2027, with a graph that continues to increase since 2025.
“We welcome this investment opportunity from Kuwait as part of efforts to achieve this target,” he added.
Meanwhile, the Indonesian Ambassador to Kuwait, Lena Maryana, expressed her appreciation for the support of Commission XII of the House of Representatives of the Republic of Indonesia.
According to Lena, KUFPEC, as Kuwait’s state-owned oil and gas company, is committed to investing up to US$10 billion in Indonesia, with an initial phase of US$1 billion.
“This investment offer is very positive, especially to support the oil lifting target of 1 million barrels per day until 2030. Indonesia must pick up the ball because this investment also contributes to achieving the economic growth target of up to 8%,” said Lena.
Lena explained that KUFPEC has been operating in Indonesia since the 1980s and is committed to supporting the development of energy and gas resources.
“We hope that this investment plan is fully supported by the House of Representatives and the government, so that it can have a positive impact on the national energy sector,” he concluded. (AT Network)
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