Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
Indonesia Throws Open Doors for Energy Investment
 
  • Energy Minister outlines ‘huge’ up and downstream potential at ADIPEC 2020 Virtual
  • 68 unexplored offshore basins to be auctioned next year
  • Gas will account for 24% of Indonesia’s energy mix by 2050

Abu Dhabi, UAE – November 12, 2020:  Indonesia is throwing open its door for increased investment in its oil and gas sector and will auction 68 unexplored offshore basins next year, according to His Excellency Arifin Tasrif, Indonesia’s Minister for Energy and Mineral Resources.

Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2020 Virtual Strategic Conference - the world’s largest online gathering of energy industry leaders – Tasrif delivered a bullish outlook for Indonesia’s oil and gas investment potential.

“Indonesia is open for business from upstream exploration to processing and training in downstream,” he said

Tasrif added that although Indonesia’s reserves of 3.77 billion barrels of crude oil and 77 trillion cubic feet (tcf) of natural gas were “not significant compared to world reserves,” the country would auction off 68 offshore basins next year, the latest initiative in a programme of industry incentives designed to deliver legal certainty and improve investment. 

Those incentives include greater flexibility for oil and gas companies in production sharing contracts, offering fiscal and non-fiscal benefits, simplifying licensing processes and strengthening data and studies with international institutions.

Defining gas and renewables as the future of green energy, Tasrif said Indonesia has set targets for gas to represent 24% of its energy mix by 2050, accelerating infrastructure development by completing masterplans for six refineries. 

“This will increase crude oil processing capacity from 1 million barrels per day to 1.9 million barrels per day,” he said, adding Indonesia would also expand its gas pipeline infrastructure to meet both domestic and power plant demand and supply remote islands in the east of the country.

Organised by dmg events, ADIPEC Virtual 2020 completes its four-day virtual run on November 12, having brought together 20 ministers, 70 CEOs, and 700 global industry leaders to assess the sector’s collective measures to achieve business resilience post-COVID.

ADIPEC Virtual 2020 - the online version of the world’s largest annual oil & gas exhibition and associated conferences – is being held under the patronage of UAE President HH Sheikh Khalifa Bin Zayed Al Nahyan. The event is hosted by ADNOC. 

The full annual ADIPEC exhibition and conferences will resume physically from November 8 to 11, 2021 at the Abu Dhabi National Exhibition Centre (ADNEC).


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 6683 times
PR Category : Energy and Industry
Posted on : Thursday, November 12, 2020  5:19:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Siemens Energy Signs Agreement to Develop Afghanistan as an ...
Next Story : ENEC and the United States Department of Energy
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Take A Deep Dive Into Bernhard H. Mayer's Latest Watch, the Wave Breaker [9303-Views]
Age in Reverse with Dr. Belmeur's New Total Youth Biome Range [6199-Views]
Savour Flavourful Mediterranean Cuisine and Celebrate Great Food at Majlis Al Sultan This ... [5309-Views]
Etihad Rail Signs Memorandums of Understanding at Innotrans 2022 with Leading Internationa... [5047-Views]
Gold Price Hits a Two Year Low: Best Time to Invest in Gold [5002-Views]
Ladies Collection [4694-Views]
Codebreakers Wanted! Unlock The Bremont Vault [4522-Views]
Your Signature Style with Pandora. [4518-Views]
The Largest Showroom of Malabar Gold & Diamonds in Abu Dhabi to Open in Mazyad Mall [4485-Views]
Kalyan Silks' 6th Showroom in UAE Inaugurated in Sharjah by Prithviraj Sukumaran [4092-Views]
Mexico and Costa Rica Explore Cooperation in Culture and Knowledge Sectors With Sharjah [3973-Views]
Startup Sharjah Hackathon In Khorfakkan Equips 150 Youth With Business-building Skills [3809-Views]
Start-Up of Unit 3 of Barakah Nuclear Energy Plant Accelerates Achievement of UAE Net Zero... [3612-Views]
Team Abu Dhabi Star Tops Qualifying With Dramatic Late Surge [3612-Views]
Prepare Your Closet for Winter with Springfield's New Fall/Winter 2022 Collection [3579-Views]
Abu Dhabi Festival Presents the First ever ‘inshad' Concert of its Kind at the Great Pyram... [3464-Views]
Samsung Electronics Announces New Environmental Strategy [3464-Views]
Rise Every Day: Mashreq redefines its role with historic new identity and customer proposi... [3411-Views]
Opening Soon: Union Coop Announces the Completion of Nad Al Hammar Mall [3370-Views]
Dubai Muscle Show Champions Female Bodybuilding Talent By Offering a Staggering AED 100,00... [3362-Views]
Torrente Keeps Grip On Title Race As Zandbergen Claims Maiden Victory In Italy [3284-Views]
The Opulent Furniture Brand Brings a Lifestyle Worth Living To Dubai [3272-Views]
Drive Home The All-new Kia Carens, Now Available at Al Majid Motors [3218-Views]
ENEC Strengthens UAE-France Cooperation in Nuclear Energy Sector Through New E-Fusion 2022 [3202-Views]
Treating Idiopathic Scoliosis Without Surgery [3145-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories