ECONOMY


Azerbaijan, Indonesia sign protocol as joint energy forum ends in Baku

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Baku, February 1, AZERTAC

The Azerbaijan-Indonesia Energy Forum has culminated with the signing of a final protocol in Baku.

The document was signed by Azerbaijani deputy minister of energy Natig Abbasov and Director General for Oil and Gas at Indonesia's Energy and Mineral Resources Ministry Gusti Nyoman Wiratmaja Puja.

Prior to the signing ceremony, Azerbaijan's energy minister Natig Aliyev addressed the forum, highlighting the relations between the two countries. He said the forum will play a special role in developing the bilateral ties.

Natig Aliyev stressed that his participation in the World Economic Forum, which was held in Jakarta in 2014, as well as a number of meetings that took place last year “have significantly contributed to the development of relations, particularly cooperation between the two countries in the field of energy”.

He described Azerbaijan as an oil country with a history spanning more than 160 years. Aliyev said that having fully ensured its energy security, Azerbaijan became not only an oil and gas producer and exporter, but also an exporter of electric power.

"Today we do not depend on any other country in the energy sector. Initiated by Azerbaijan, important projects are being carried out in order to meet the energy demand not only of the region, but also the European continent," he said.

"Success Azerbaijan has gained in the oil and gas industry paves the way for our cooperation with other countries. Indonesia is one of these countries," the Azerbaijani minister added.

“Both countries have great energy potential. Azerbaijan can share its experience in the energy sector with Indonesia, and the forum is of great significance from this point of view. One of the key objectives of the forum is to explore a range of areas the two countries can cooperate in," he added.

Minister Aliyev noted that the oil sector occupies an important place in the economies of Azerbaijan and Indonesia. "With its rich experience in the field of oil refining, Azerbaijan has broad prospects for energy cooperation with Indonesia."

Drawing the participants' attention to various projects SOCAR has carried out in Indonesia, the minister said that Azerbaijani specialists could work in Indonesia, while Indonesian students could study in the energy and oil sector of Azerbaijan.

Director General for Oil and Gas at Indonesia's Energy and Mineral Resources Ministry Gusti Nyoman Wiratmaja Puja emphasized Indonesia`s interest in expanding cooperation with Azerbaijan in the energy sector. He said mutual investment in the field of energy, especially active participation of the private sector, would make a significant contribution to the development of the bilateral relations.

Expressing his country's intention to benefit from Azerbaijan's “rich” experience in oil refining and exploration, Wiratmaja Puja said that Indonesia currently faces an oil shortage problem. "Today this lack is compensated by the alternative and renewable energy sources. Indonesia is interested in energy cooperation with Azerbaijan and in purchasing crude oil. And today`s forum creates a good basis for this," he added.

At the forum, the two counties also discussed the possibility of creating a joint working group.

The event also focused on the partnership between the Azerbaijani State Oil Company (SOCAR) and Indonesian state oil company Pertamina.

Following the forum representatives of SOCAR and SOCAR Trading companies, Azerenerji, Azerisıq and State Agency for Alternative and Renewable Energy Sources made presentations.

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