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US investors interested in geothermal business in Indonesia

Published 21 April 2017

The Minister of Energy and Mineral Resources (ESDM), Ignatius Jonan together with the Chairman of the United States Delegation, Brian McFeeters witnessed the signing of Business to Business Agreement (B-to-B) between PT PLN (Persero) with Halliburton. This agreement is related to the development of geothermal resources in Indonesia.

"The signing of this agreement marks the enhancement of economic cooperation between the two countries based on the principles of equality and mutual benefit between the Government of Indonesia and the United States," he said.

PT PLN and Halliburton agreed to develop geothermal working areas owned by PLN including potential investment from the United States. In February, both companies have signed contracts worth US $ 34 million to drill geothermal wells in Tulehu, Ambon, North Maluku, and develop a long-term strategy for the development of Geothermal in Indonesia. In addition to the signing, Minister Jonan also witnessed several other B-to-B energy deals, namely:

PLN - PowerPhase cooperation for installation of TurboPhase booster system at PLTG. The technology can reduce fuel consumption, reduce emissions and increase the output of electricity generated.

PLN - Applied Material cooperation to install Fault Current Limiter which can reduce Fault Current Levels in West Java power grid. Applied Materials wishes to conduct FS for this technology on the 500 Kv substation.

Cooperation between Greenbelt Resources and Jababeka Infrastructure for the development of waste to resource facility in Jababeka which will be called JababECO.

NextGen cooperation with the Government of Samarinda for low carbon waste-to-electricity project.

"The signing of this agreement is a testament to the seriousness of both Governments to conduct real cooperation in the economic field," said Minister Jonan.

Therefore, the Minister of ESDM hopes that this commercial agreement will be followed by concrete steps. The Government of the United States trusts the Government of Indonesia's commitment in the field of investment.

A positive response was also delivered by the United States Government. "This partnership demonstrates the commitment of the United States in enhancing trade and investment relations and enhancing America's position in Indonesia in the economic field," said US Ambassador to Indonesia Joseph R. Donovan.



Source: Company Press Release