Indonesia’s national oil company, Pertamina, will be represented at the upcoming African Energy Week (AEW) conference from November 4-8 in Cape Town, as the company sets its sights on new investment opportunities in African oil and gas markets. Pertamina’s delegation, led by Senior Vice President of Business Development Wisnu Medan Santoso, aims to advance Indonesia’s goal of diversifying energy imports by connecting with African energy partners.
Indonesia, which once played a major role as an oil exporter, has seen a decline of 33% in production since 2010 due to aging oilfields. This shift has prompted Pertamina to pursue partnerships abroad, particularly in Africa, where energy demand and growth are high. During AEW 2024, Pertamina’s representatives will meet with public and private entities across Africa’s oil and gas sectors.
Organizers of AEW 2024 describe the event as a leading platform for project operators, investors, technology experts, and government representatives, facilitating deal-making within the African energy sector.
With Indonesia’s oil demand rising alongside population growth and economic expansion, the country anticipates a significant increase in its reliance on imported crude—from 41% in 2023 to 82% by 2030. Currently, Indonesia imports crude primarily from Nigeria, Saudi Arabia, and Angola . To diversify these sources, Pertamina is actively building its investments across Africa.
In recent months, Pertamina has strengthened partnerships across Africa. In August, it signed a Memorandum of Understanding (MoU) with the Tanzania Petroleum Development Company (TPDC) to advance both upstream and downstream projects, including capacity-building initiatives. The agreement builds on a previous MoU from 2023. Pertamina also has an ongoing partnership with Mozambique’s Buzi Hydrocarbons, aimed at developing the Buzi field and exploring broader oil and gas opportunities.
Pertamina’s ventures extend to downstream operations as well. The company recently signed a Joint Study Agreement with South African firm Guma to conduct feasibility studies for a gas-to-power project, fostering a model for cooperation in gas monetization. In Kenya, Pertamina has partnered with the Geothermal Development Company and Africa Geothermal International, with exploration for geothermal energy projects slated to begin in 2024. NJ Ayuk, Executive Chairman of the African Energy Chamber, emphasized the significance of Pertamina’s presence at AEW, noting that “Indonesia brings a wealth of expertise that can significantly bolster Africa’s oil and gas developments.”
Through its participation at AEW 2024, Pertamina aims to open new channels for collaboration with African nations, engaging in discussions on investment and showcasing its technological expertise to support Africa’s expanding energy sector.
