Strengthening Global Expansion, Pertamina Signs Memorandum of Understanding with Guma Africa Group

Jakarta, September 29, 2023 – In pursuit of national energy self-sufficiency and bolstering its presence overseas, PT Pertamina (Persero) has signed a Memorandum of Understanding (MoU) with Guma Africa Group Limited for a strategic alliance on potential projects spanning the entire oil and gas value chain in Africa. The signing ceremony took place in Jakarta on Thursday, September 28, with the Director of Strategy, Portfolio, and Business Development of Pertamina, A. Salyadi Saputra, and the Executive Chairman of Guma Africa Group Limited, Robert Gumede, in attendance, witnessed by the President Director of Pertamina, Nicke Widyawati.

Nicke Widyawati, President Director of Pertamina, stated that this signing strengthens the collaboration between Indonesia and Africa, following earlier agreements between the governments (Government-to-Government/G-to-G). These agreements were established during the visit of Indonesian President Joko Widodo and several Ministers of the Indonesian Cabinet to several African countries in August 2023.

"We highly appreciate the support of the Government, which has allowed Pertamina to build a strong track record over the past 5-10 years. We hope to apply Pertamina's expertise and experience from Indonesia to projects in Africa," Nicke said.

Nicke further added that through this agreement, both parties can maximize opportunities for economic growth and energy resilience in Indonesia and Africa.

"It is hoped that this collaboration benefits all parties involved, especially Pertamina and Indonesia. Our motto is 'bring the barrels home,' meaning Pertamina's overseas expansion should benefit Indonesia," Nicke emphasized.

Executive Chairman of Guma Africa Group Limited, Robert Gumede, expressed that the signing represents a significant milestone. Pertamina will assist Africa in exploration, processing, and resource importation, focusing on cost-effectiveness and efficiency.

"What Pertamina has taught us will be applied in African countries where we also have oil and renewable energy resources. We are thrilled with this mutually beneficial collaboration," Gumede said.

The MoU between Pertamina and Guma expands Pertamina's international footprint, especially in Africa. During a previous Pertamina visit to Africa, alongside President Joko Widodo, Pertamina initiated collaborations with business partners in Africa for upstream to downstream oil and gas development, including renewable energy sources such as geothermal. Pertamina's estimated total potential investment in these collaborations is US$ 2.6 billion or approximately IDR 40 trillion. These collaborations will take place in Kenya, Tanzania, Mozambique, and South Africa.

Nicke explained that Africa is a vital market for Pertamina, not only for going global but also for increasing production and its role in the energy transition. "The spirit of 'bring the barrel home' signifies Pertamina's focus on the upstream sector to enhance production, which can then be processed at Pertamina's domestic refineries to boost our national energy resilience," she added.

Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social & Governance (ESG) implementation across all Pertamina's business lines and operations.**