Indonesia and Türkiye firms to cooperate on geothermal development
Signing of confidentiality agreement between Pertamina Geothermal Energy and Kipas Holding in Istanbul, Turkiye (source: KEMLU)
Carlo Cariaga
5 Feb 2024
Pertamina Geothermal and Kipas Holding have agreed to jointly explore opportunities for geothermal development in Indonesia, Türkiye, and other countries.
Indonesia’s state-owned geothermal developer Pertamina Geothermal Energy (PGEO) has signed a Confidentiality Agreement with Turkish energy company Kipas Holding (Kipas), signifying the start cooperation in the geothermal energy sector. In a previous meeting, both companies expressed interest in cooperating in exploration of geothermal resources both in Türkiye and Indonesia, with possibility of joint investment in third countries.
The signing of the agreement was carried out by Julfi Hadi as President Director of PGE and Mehmet Sisman from Kipas Holding, witnessed by the Indonesian Ambassador to Türkiye Achmad Rizal Purnama in Istanbul.
The Indonesian Embassy in Ankara had facilitated PGE’s efforts to seek potential cooperation in geothermal exploration and operations with several energy companies in Turkey. Various meetings have been held to find the right potential partners.
“During PGE’s visit to Turkey this time we also met with several top energy companies and held long discussions at each meeting. Hopefully in the near future we can find 1 or 2 more potential partners for investment in Türkiye,” explained Julfi Hadi.
“We are happy to have met with Pertamina Geothermal Energy and hope that the cooperation will be fruitful with an exchange of information and experience for geothermal energy sector improvement in both Türkiye and Indonesia,” Sisman said during the signing of the agreement.
The signing of this agreement is the latest in a string of projects the PGEO has secured in alignment of their international expansion efforts. In August 2023, PGEO signed an agreement with Africa Geothermal International Limited (AGIL) for the development of the Longonot geothermal area in Kenya. Before the end of 2023, another announcement was made for a $1-billion deal for the Suswa geothermal project in Kenya also to be backed by PGEO.
Source: Ministry of Foreign Affairs of the Republic of Indonesia (KEMLU) and Daily Sabah
