Indonesia and UAE Forge Partnership in Energy and Mineral Resources

Abu Dhabi, UAE, November 23, 2024 – Indonesia and the United Arab Emirates (UAE) solidified their commitment to bolstering their bilateral relationship in the energy and mineral resources sector. The two nations agreed to broaden their cooperation, encompassing information and policy exchange, collaboration between businesses, project financing, clean technology transfer, and human resource development.

This strengthened partnership is formalized in a Memorandum of Understanding (MoU) signed by Indonesian Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia and UAE Minister of Energy and Infrastructure Suhail Mohammed Faraj Al Mazrouei. The signing ceremony took place on the sidelines of Indonesian President Prabowo Subianto’s working visit, where he met with UAE President Mohamed bin Zayed Al Nahyan in Abu Dhabi.

The MoU is anticipated to deepen the engagement and camaraderie between the two countries. Both nations have pledged to examine each other’s successes and lessons learned to support the global advancement of the energy and mineral resources sector.

Minister Bahlil underscored the importance of this partnership, stating, “We believe, with good synergy, Indonesia and the UAE can be pioneers in transforming global energy.” He further emphasized that through the UAE’s support, Indonesia can accelerate its energy sector development by leveraging innovative technology and sustainable mineral resource management.

This collaboration will promote partnerships between businesses from both countries in the mineral supply chain, encompassing integrated midstream and downstream processing and manufacturing. It will also contribute to renewable energy development, including decarbonization initiatives, emission reduction, and the advancement of upstream and downstream oil and gas activities by promoting low-emission technology and innovation.

The implementation of this cooperative endeavor, as outlined in the MoU, includes:

• Sharing knowledge pertaining to policies, strategies, and regulations.
• Creating financing opportunities for Carbon Capture Storage/Carbon Capture Utilization Storage (CCS/CCUS) projects.
• Developing cutting-edge technologies for biofuels and hydrogen.
• Enhancing the expertise of human resources in the energy sector.

This expanded collaboration aligns with Indonesia’s ambitious vision to achieve Net Zero Emissions by 2060. The Indonesian government is optimistic that the UAE’s backing can reinforce Indonesia’s standing as a key player in the global energy sector.