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 : Dubai PR Network Editorial Team
Viewed 4813 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
Add Extra Sparkle to Your Holidays With Make Up for Ever's 2020 Holiday Collection [7462-Views]
Discover the Ingredients [4977-Views]
A Warm Summer Rain in Winter: The New Head Shower GROHE Tempesta 250 [4686-Views]
Schneider Electric Unveils New Sustainable Energy Products at CES 2021 [4502-Views]
Samsung Introduces Latest Innovations for a Better Normal at CES 2021 [4498-Views]
Canon Recognizes 3 Leading Photographers from the UAE, KSA & Jordan for their Ambassador P... [4309-Views]
The University of Queensland wins Ericsson Innovation Awards 2020 [4145-Views]
Moonwatch now Master Chronometer Certified [4034-Views]
The Most Inclusive Range of Primers to Offer 24hr Correction for Any Skin Type, Any Skin T... [3727-Views]
What's your Colour Code? [3510-Views]
Bridgestone To Debut Virtual City of the Future, Showcase Mobility Solutions at CES 2021 [3497-Views]
Unique Spatial Sound Technologies for Ambient Room-filling Sound with Sony's Latest Premiu... [3132-Views]
World Gold Council ETF 2020 Report and Gold Outlook 2021 [3116-Views]
Herbal Essences Taps into Nature's most Powerful Ingredients with the new Potent Aloe Vera... [2972-Views]
Western Digital Delivers Unmatched Line Up of High-capacity Portable SSDS Across Its Renow... [2821-Views]
Giorgio Armani Collaborates with Parmigiani Fleurier to Create a Fine Watches Collection' [2706-Views]
Omega Dubai Desert Classic [2653-Views]
SEHA Commences the Administration of the Covid-19 Vaccine to UAE Community at 40 Locations [2374-Views]
Sony Exhibits at CES 2021 [2341-Views]
Lenovo Yoga Slim 7i Pro Laptop Now Features OLED Display [2284-Views]
Ogilvy Names James Kinney as Global Chief Diversity, Equity & Inclusion Officer and Chief ... [2280-Views]
Middle East Hotels Ready to Capitalise on Workation Trend, says ATM [2218-Views]
Dubai Customs Gives Certificate Issuance Authorization to Registered Ducamz Car Dealers [2210-Views]
Dynabook Announces Arrival of New 11th Gen Intel® Core™ vPro Processors to Premium X Serie... [2128-Views]
‘Educators without Borders' to cover South Asia in partnership with India's Ma'din Academy [2128-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories