Indonesia open doors wide for energy investment

SectorOil & Gas
CountryMiddle east

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 Arifin Tasrif, Indonesia’s Minister for Energy and Mineral Resources. Tasrif delivered a bullish outlook for Indonesia’s oil and gas investment potential, 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. “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 more...