Emirati and Indonesian companies signed agreements worth a total of $9.7 billion during a state visit by the Abu Dhabi Crown Prince Mohammed bin Zayed to Indonesia, Reuters reported.

Mubadala and Indonesia’s Chandra Asri Petrochemical Company have agreed with OMV to explore the development of a naphtha cracker and petrochemical complex with about $6 billion in investments.

Mubadala Petroleum also signed a farmout agreement with Premier Oil for a 20% participating interest in the Andaman I and South Andaman Gross Split Production Sharing Contracts (PSCs) in Indonesia.

Meanwhile, Abu Dhabi National Oil Company (ADNOC) inked an agreement with Indonesia’s PT Pertamina for cooperation in the fields of oil and gas transportation, trading, and storage, with a potential value of $2.5 billion.

Maspion Group reached an agreement with DP World to develop a container terminal in Gresik in East Java, valuing the deal at $1.2 billion.

The UAE and Indonesia also discussed investments in the tourism and construction sectors.