Indonesia Anticipates Huge Inflows of Downstream Oil & Gas Investments

By Editorial Team 22/11/2021
Summary

The Indonesian government predicted that downstream oil and gas investments would keep increasing every year, following the development of the industry. "Downstream oil and gas investment will continue to grow until 2024. This is certainly a big opportunity for oil and gas stakeholders to be involved in the downstream oil and gas sector," the Energy and Mineral Resources (ESDM) Ministry's Coordinator of Oil and Gas Processing, Muhidin, on Sunday.

The ministry estimated that in 2021 the total investment value would reach US$4.4 billion and then go up more than double to US$9.18 billion in 2022, to US$11.22 billion in 2023, and to US$10.77 billion in 2024. Several promising projects in the sector are of oil refineries and petrochemical establishments which are currently underway and expectedly completed in 2022-2027. Investment in five projects to increase the capacity of existing refineries and erect one new oil refinery may reach up to US$43 billion.

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