Indonesia Seeks Long-Term Nigerian Crude Supply, Oil Asset Investment

By Adedapo Adesanya

Indonesia has expressed interest in securing long-term crude oil supplies from Nigeria and investing in the country’s oil and gas assets, as both countries move to deepen bilateral energy cooperation.

The interest was disclosed during a meeting between the chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bayo Ojulari, and an Indonesian delegation led by the country’s Vice Minister of Foreign Affairs, Mr Arif Havas Oegroseno, in Abuja.

This move comes as Indonesia, in recent months, has imported crude oil from Nigeria as Southeast Asia’s largest economy moved to reduce its dependence on Middle Eastern supplies amid rising geopolitical tensions involving the United States, Israel, and Iran.

The country is diversifying supply routes away from the volatile Strait of Hormuz, a key global oil transit chokepoint that handles about 20 per cent of world oil shipments.

Representing Mr Ojulari at the engagement, the Executive Vice President for Gas, Power and New Energy at NNPC, Mr Olalekan Ogunleye, highlighted investment opportunities across Nigeria’s integrated energy value chain, including upstream oil and gas, gas development, refining, downstream operations, power and renewable energy.

The Indonesian delegation, according to NNPC, expressed particular interest in securing long-term crude supply arrangements and investing in Nigerian oil and gas assets.

The proposed investments would cover new oil blocks as well as existing producing and near-producing projects, potentially expanding Indonesia’s participation in Nigeria’s petroleum industry.

Beyond crude supply and asset investments, the discussions also covered opportunities in shipping, logistics, technical training and capacity development.

Both sides expressed commitment to building a comprehensive and mutually beneficial energy partnership that would strengthen Nigeria-Indonesia energy relations.