MOU on Cooperation between NEXI and PT Pertamina

Nippon Export and Investment Insurance (NEXI) signed a Memorandum of Understanding (MOU) on cooperation with PT Pertamina (Persero), Indonesia’s state oil company（”Pertamina“）. The MOU was signed by Mr. Kazuhiko Bando, Chairman & CEO of NEXI, and Dr. Dwi Soetjipto, President Director & CEO of Pertamina, at Pertamina’s head office in Jakarta on December 17, 2015.

<Background>
Indonesia is planning a number of large-scale investment projects in the field of oil, gas and electricity, to meet the growing demand for energy driven by strong economic growth. The planned projects include construction of a natural gas-fired power plant with capacity of 35GW. To support the country’s rapidly increasing demand for natural gas that is used for power generation and energy, Indonesia has started to import LNG, and now the country faces the necessity of improving the LNG infrastructure. Japanese companies are expected to participate in Indonesia’s energy projects, by using their superior technology and extensive experience in the country.

NEXI is positive about supporting Japanese companies’ participation in the projects planned in Indonesia. One of the effective support measures is to exchange information and discuss the possible cooperation with Pertamina from the initial stage about each project in which Pertamina is expected to participate as a sponsor or user, such as oil and gas projects including LNG and power generating projects mainly on IPP.

<Summary of the MOU>

• 1. This MOU is for the purpose of establishing a cooperative framework between NEXI and Pertamina to support and promote trade and investment between Japan and Indonesia, and enhancing the cooperative structure in the field of trade insurance.
• 2. To design a specific program, NEXI and Pertamina will discuss the development of a future cooperative framework, possible cooperative projects, staff training, mutual visits, seminars on each organization’s specialty, and holding of workshop.

NEXI and Pertamina have built a relationship through specific projects. After this MOU, the two organizations will exchange information on the projects in which Japanese participation is expected, and discuss the specific cooperation for each project. Through this MOU, NEXI will actively support Indonesian business by Japanese companies.