06/24/2019, 14.43
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Indonesia’s energy sector booming with revenue reaching US$ 13.8 billion

by Mathias Hariyadi

Revenues exceed the 2018 National Budget Plan forecast of US$ 8.8 billion by 157 per cent. “Issues about energy and mineral resources are fundamentally strategic,” said former OPEC chief Purnomo Yusgiantoro. A Catholic, the latter created a think tank that brings together entrepreneurs, professionals and experts in the energy sector.

Jakarta (AsiaNews) – The latest data by the Indonesian Ministry of Energy and Mineral Resources (ESDM) indicate that the total revenues from the oil and gas sectors reached 196 trillion rupiahs (US$ 13.8 billion), 157% of the amount forecast in the 2018 National Budget Plan of 125 trillion rupiahs (US$ 8.8 billion).

Oil and gas investment in 2018 reached US$ 12.3 billion, much higher than in 2017 when it was only US$ 11 billion.

“Issues about energy and mineral resources is fundamentally strategic and politically important in matters of national interests and defence resilience,” said Prof Purnomo Yusgiantoro (pictured), an industry expert and a former president of the Organisation of Petroleum Exporting Countries (OPEC).

Between 2000 and 2009, Yusgiantoro served as EDSM Minister under three presidents and was Defence Minister between 2009 and 2014.

A Catholic, he founded the Purnomo Yusgiantoro Center (PYC) in 2016, bringing together entrepreneurs, professionals and experts in the energy sector.

Speaking to AsiaNews, he said that the PYC "is at the service of national and international agencies". Its research and documentation are available to anyone who wants to explore the opportunities offered by Indonesia’s energy sector.

“We provide for free to the public all data related with economy, statistics and policy,” said Inka Yusgiantoro, head of the PYC’s supervisory board as well as director of Development and Strategic Policy at the Financial Services Authority of Indonesia (OJK).

By itself, “The PYC aims to participate in a wide range of research spectrum and to provide policy solutions and recommendations in the energy and natural resources sectors,” he explained. “The Center emphasizes reviewing and identifying current issues revolving the energy sector at the local, national, and global levels.”

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