between the Ministry of Energy of Azerbaijan and the Ministry of Energy and Mineral Resources of Indonesia signed a Memorandum of Understanding for Energy Cooperation.
Speaking about the role of cooperation in the energy sector in the development of bilateral relations between Azerbaijan and Indonesia, Minister of Energy Parviz Shahbazov noted that SOCAR since 2007 delivers crude oil to Indonesia. During this time, SOCAR put on the Indonesian direction a total of more than 25 million tons of crude oil, of which 24 million tons make up Azeri Light oil: “Our partnerships in the energy sector currently have the potential for expansion.
The goal of increasing the share of renewable energy sources in the installed capacity of Azerbaijan, up to about 1500 MW, up to 30%, measures taken in connection with the involvement of foreign investors, and especially plans to transform liberated territories in the Green Energy Zone, create large Opportunities for the development of energy cooperation. Today, the document signed today includes cooperation in the field of renewable energy sources, as well as the diversification of cooperation in the energy sector. Taking this opportunity, I invite the stakeholders of the public and private sectors of Indonesia, potential investors to cooperate in the field of green energy. “
Energy Minister and Mineral Resources Indonesia Arifin Tasrif noted that with the signing of this document, the development of energy cooperation between Indonesia and Azerbaijan enters into a new stage: “Pandemic, accompanied by an economic decline in a global scale, stimulates overcoming difficulties with innovative, non-standard plans and Strategies Also in such a difficult situation, international cooperation is becoming an important factor, including in the energy sector. I believe that energy cooperation between Indonesia and Azerbaijan will develop at a higher level and bring mutual benefits to both countries. “
According to the Memorandum, Azerbaijan and Indonesia will cooperate in the areas of mining and processing in the oil and gas sector, as well as in the field of renewable energy sources. The document also covers the implementation of joint projects for scientific and technical cooperation, training and development programs, promoting investments in the energy sector, conducting joint seminars, conferences and energy forums. It is also envisaged to create a joint working group for discussion and implementation of issues arising from a memorandum of understanding.