The Indonesian government has given a positive signal to Saudi Aramco to invest in the country’s downstream sector, according to a local media report.
Indonesia’s Energy and Mineral Resource Minister Sudirman Said has stated that Saudi Aramco can cooperate with PT Pertamina to build gas stations. “If we don’t offer them intriguing terms and conditions, they will not be interested,” Sudirman told Tempo in his office on Monday.
Saudi Aramco’s plan to invest in the project was agreed upon during Indonesian President Joko Widodo’s visit to Saudi Arabia early in September. Without the meeting, Pertamina has aleady been planning to partner with Aramco to develop a company via the ‘Refinery Development Masterplan Program’.
Aramco has requested to enter the gas station business for a while, but Pertamina has yet confirmed the continuation of such collaboration. PT Pertamina CEO Dwi Soetjipto has admitted that the offer from Saudi Arabia is currently being discussed.
Saudi Aramco has long craved for the project for four new companies owned by Pertamina. The Saudi Arabian oil giant is interested to invest in the storage, distribution, and fuel sales in gas stations.
Besides Saudi Aramco, oil companies from Canada, China, Iraq, and Kuwait have also made official bids to invest in the project.
