Jakarta (ANTARA) - Indonesian Minister of Foreign Affairs, Retno Marsudi, officiated the first "oil and gas corner" at the Indonesian Embassy in Kuwait City, aimed at attracting investments in the oil and gas sector.
"The inauguration of the first oil and gas corner at the Indonesian Embassy in Kuwait City marks the important role of Indonesia’s Representative to attract investors in the oil and gas sector in Indonesia," said Minister Marsudi in a written statement issued by the Indonesian Ministry of Foreign Affairs received here on Monday.
The statement was delivered by the Indonesian Foreign Minister during her opening remarks at the inauguration of the Oil and Gas Corner at the Indonesian Embassy in Kuwait City on September 1, 2019.
The inauguration is a form of new initiative and collaboration between the Indonesian Embassy in Kuwait and the Oil and Gas Special Work Unit (SKK MIGAS).
"The oil and gas corner will facilitate investors in the sector to learn about the potential of oil and gas exploration from Sabang to Merauke in Indonesia without having to visit Indonesia," said Marsudi.
The inauguration was also attended by the CEO of Kuwait Foreign Petroleum Exploration Company (KUFPEC), Shaikh Nawaf Al-Sabah, as well as several investors and business persons in the oil and gas sector in Kuwait.
The corner is also equipped with a collection of the latest literature and information on the upstream oil and gas industry, potential resources, and profiles of the oil and gas industry businesspersons in Indonesia.
"Through technological advancement, we will bring Indonesia's oil and gas potential to foreign investors," Minister Marsudi stated.
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"The oil and gas corner at the Indonesian Embassy in Kuwait is the first we have ever established, and we seek to set up several others. The oil and gas corner will also be developed in other RI’s representatives around the world, especially in countries that have great cooperation potential in the oil and gas sector," she explained.
The corner at the Indonesian Embassy in Kuwait was launched before the procurement of the Indonesia-Kuwait First Commission Assembly that was co-led by Marsudi and Kuwaiti Foreign Minister, Sheikh Sabah Khaled Al Hamad Al Sabah, in Kuwait City on September 2, 2019.
"I expect that the oil and gas corner will be Indonesia's foremost storefront in attracting Kuwaiti investors in the Indonesian oil and gas sector," she said.
In accordance with President Joko Widodo's instructions on economic diplomacy, all Indonesia’s representatives will be mandated to attract investment and promote exports.
Indonesia is currently focusing on exploring 10 main oil and gas source points from Sabang to Merauke with a total estimated value of oil and gas resources of around 10 billion in equivalence with the crude oil barrel.
Kuwait is one of the first and largest energy partners for Indonesia with the value of oil and gas imports reaching US$214 million in 2018. The Indonesia-Kuwait bilateral trade value reached more than $403 million in 2018.
KUFPEC, the Kuwaiti oil company, has been a long-time partner for Indonesia in exploring its oil and gas sector potential since the 1980s.
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