Jakarta, IndonesiaSentinel.com — Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, is launching a strategic push to optimize the country’s vast oil and gas reserves. The move is aimed at boosting energy sector investments and driving economic growth.
Minister Bahlil said, A key target for these opportunities is China, known for its advanced exploration technology.
“We have many untapped oil and gas blocks that can increase national productivity. I’ve offered some of these opportunities to Chinese investors for potential joint development,” Bahlil said, according to an official statement from the Ministry of Energy on Friday, September 6, 2024.
Bahlil also addressed Indonesia’s declining oil output, or lifting, in contrast with rising domestic demand. “Currently, Indonesia’s oil consumption stands at 1.6 million barrels per day, while our lifting is only around 600,000 barrels per day.”
He emphasized that partnerships must be mutually beneficial and that Indonesia is committed to creating an open and favorable environment for business. “Energy sector collaborations must benefit both sides, and we’re offering a conducive space for doing business in Indonesia.”
Bahlil reassured China of Indonesia’s commitment to maintaining a welcoming investment climate, highlighting the progress made in bilateral cooperation between the two countries.
(Ray)
