VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesia managed to pocket around USD 8 billion (Rp 125 trillion) related to investment commitments from this year's series of G20 Summit events. This was conveyed by the Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia.

According to him, this figure is predicted to continue to increase. This is because, said Bahlil, there are still a number of agreements that have not been officially signed to be followed up further.

"However, there are approximately USD 10 billion that have not been signed but an agreement has been reached. And I do not want to announce this USD 10 billion because it has not been signed," Bahlil told reporters, Thursday (17/11/2022).

Bahlil explained that the investment commitments that Indonesia received came from a number of countries. Like South Korea, China to Europe, which so far have focused on investing in Indonesia.

"The details will be later when we sign the HoA (Head of Agreement/preliminary agreement)," he said. Previously, during the series of G20 Summits (Summits) in Bali, bilateral meetings were held with a number of countries.

Bagkan, Bahlil said he could meet with 9-10 investors per day. The G20 event has produced the Bali Leaders Declaration or the Bali Declaration as well as a series of action plans with concrete goals.

There is also the G20 Action for Strong and Inclusive Recovery document which contains a list of projects from various discussions. As well as the negotiations that were carried out during the G20 Indonesian Presidency.

On the other hand, Indonesia's G20 produced some concrete results. Such as the formation of the Pandemic Fund which has raised USD 1.5 billion.

Next is the establishment and operation of a resilient and sustainability trust under the IMF (International Monetary Fund) amounting to USD 81.6 billion. The funds are to help countries facing crises.

Apart from that, there is also an energy transition mechanism. Especially for Indonesia in obtaining a commitment from the just energy transition program with an investment of US$ billion. (RRI)

President Joko Widodo (Jokowi) departed for Bangkok, Thailand, from I Gusti Ngurah Rai International Airport, Badung Regency, Bali, Thursday (11/17/2022). Departure of the President and First Lady Iriana to attend the Asia Pacific Economic Cooperation (APEC) Summit

"Today, I, the First Lady and a limited delegation will depart for Bangkok, Thailand. I will attend the series of APEC Summit meetings until Friday, November 18, 2022," said the President.

The APEC Summit is the last series of summits after ASEAN in Cambodia and the G20 in Bali, Indonesia. The President said that Indonesia's main focus at the APEC Summit was to promote an inclusive and sustainable economic recovery.

"In principle, leave no one behind. Digital transformation, green economy, and downstream are Indonesia's priorities at this year's APEC," he explained.

According to the Head of State, APEC represents nearly 3 billion of the world's population and 60 percent of the world's Gross Domestic Product (GDP/GDP). "APEC must continue to be the engine of economic growth in Asia Pacific," he added.

The President and Mrs. Iriana will soon return to Indonesia after the APEC Summit is over, Friday (18/11/2022). "I will return to Indonesia, God willing, on the evening of November 18," he said. (RRI)

The MDA Gas Field, one of the three fields of the 3M Project in Indonesia, has commenced production on November 14.

The project will provide strong support for the natural gas supply of Indonesia. Its natural gas output will also guarantee the important livelihood initiatives run by Indonesia's state-owned corporation PKG.

3M Project in Indonesia is operated by Husky-CNOOC Madura Limited (HCML). As a joint venture partner and manager of HCML, CNOOC Southeast Asia Limited（CNOOC Southeast Asia, holds 40% interest. Cenovus Energy Inc. holds 40% interest and Samudra holds 20% interest.

3M Project is located approximately 75 kilometers southeast of Madura Island in the Madura Strait, East Java, with an average water depth of approximately 80 meters. The project contains 3 gas fields with a total of 9 gas-producing wells.

The main production facility is a floating production unit that will undertake the natural gas production and treatment process. The FPU was constructed in China with a design capacity of 175 million cubic feet per day.

Indonesia has the fourth largest population in the world and serves as a key transportation gateway between Asia and Oceania, the Pacific, and the Indian Oceans.

In addition to being the largest economy in Southeast Asia and a G20 member, it is also one of the founding members of the Association of Southeast Asian Nations. Indonesia is a crucial partner along China's "Belt and Road" at the same time.

CNOOCSoutheast Asia is actively establishing a new pattern of mutual benefit and win-win outcomes with resource countries, and advancing the comprehensive strategic cooperation between Indonesia and China.

"Through the fine management, targeted measures, and efficient organization of the project, the MBH, and MDA gas fields have been realized first oil safely, reflecting the accumulation and improvement of the company's overseas experience of project operation,” Kang An, Deputy General Manager of CNOOC Southeast Asia and General Manager of HCML said in a release received by Voice of Indonesia on Thursday.

“The two gas fields' production will also support the implementation of HCML's green and low-carbon policy, and advance Indonesia's IOG4.0 objective.  The natural gas of the 3M project also guarantees energy supply for the local electricity and fertilizer,” he said.

Wang Guodong, Chairman of CNOOC Southeast Asia, said, that because Indonesia is CNOOC's first stop of its overseas footprints, the country is actively implementing the ‘going out’ strategy.

"After more than 20 years, the company continues actively supporting Indonesia's sustainable offshore oil and gas exploration and development while adhering to the win-win principle. The corporation will vigorously advance the green and low-carbon strategy, expand clean energy exploration, development, and supply, and keep implementing China's Belt and Road Initiative," he said in the release.

As HCML's manager, based on its expertise in oil and gas management and technology accumulated, CNOOC Southeast Asia strengthens international energy cooperation along the "Belt and Road". CNOOC Southeast Asia will work with partners to develop world-class benchmark projects. This will have a beneficial impact on the high-quality collaborative construction of the Indonesia-China community with a shared future. (VOI)

Indonesia's leadership at the G20 has succeeded in producing the Bali G20 Leaders Declaration, although initially it was doubted by many parties. President Joko Widodo said the declaration consisted of 52 paragraphs.

The Head of State said that the attitude to war in Ukraine was the most difficult and highly debated matter. This was conveyed by the President in a press statement at the media center, Bali International Convention Center, Bali, Wednesday (16/11/2022).

"Discussions on this matter were very, very tough and finally the G20 leaders agreed on the contents of the declaration. Namely condemning the war in Ukraine because it violated regional boundaries and violated territorial integrity," the President said.

The war in Ukraine has caused people to suffer and has exacerbated the global economy, which is still fragile due to the pandemic. It also poses a risk of a food crisis, energy crisis, and potential financial crisis.

Therefore, the G20 discussed the impact of war on global economic conditions. According to the President, the G20 Bali has also produced some concrete results.

Among other things, the formation of a pandemic fund, which has collected USD 1.5 billion to date. Then the establishment and operation of a resilient and sustainability trust under the International Monetary Fund (IMF) amounting to USD 81.6 billion.

This is to help countries facing crises. "Then also the energy transition mechanism, especially for Indonesia, obtained a commitment from the Just Energy Transition Program for USD 20 billion," he said.

In addition, a shared commitment is also produced. That is, at least 30 percent of the world's land and 30 percent of the world's oceans are protected by 2030.

"This is very good, and continues the commitment to reduce land degradation by 50 percent by 2040 voluntarily. I think that is a concrete result, although there are actually a lot of other results," he said. (RRI)