Jakarta – Indonesia’s energy resources still hold vast untapped potential. Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif revealed that around 68 hydrocarbon basins in Indonesia remain unexplored.
He disclosed this while opening The 48th IPA Convention & Exhibition (IPA Convex 2024), often dubbed the “Lebaran” of Indonesia’s oil and gas sector, held at ICE BSD, Tangerang, on Tuesday (May 14).
“To meet domestic oil and gas demand, Indonesia is currently focusing on exploration efforts, considering the country still has many untapped reserves. Out of 128 hydrocarbon basins, 68 remain unexplored,” he said on Wednesday (May 15, 2024).
Arifin explained that to accelerate exploration, the government is expanding new oil and gas working areas. He emphasized that upstream oil and gas operations remain essential, particularly for transportation and power generation.
He also noted that natural gas will serve as a bridge toward achieving 100% renewable energy generation. At the same time, the government is committed to reducing carbon emissions.
“Nevertheless, the upstream oil and gas industry must adopt emission reduction strategies, including the application of clean energy technologies such as CCS/CCUS,” he added.
To boost production from undiscovered reserves, Arifin invited investors to participate through the government’s working area bidding process or by entering direct negotiations.
“We are also offering various tax facilities and incentives for upstream activities to create an attractive investment climate, especially concerning the economic feasibility of oil and gas development,” he concluded.
For reference, the oil and gas sector’s key stakeholders gathered at The 48th IPA Convention & Exhibition (IPA Convex 2024), Indonesia’s largest industry event. The exhibition, held at ICE BSD City, Tangerang, from May 14–16, 2024, was officially opened by Minister Arifin Tasrif and attended by academics, investors, and CEOs from both local and international oil and gas companies.
Source: Detik Finance
