TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsRI taps foreign partners to build oil storage in Sumatra
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
State-owned oil and gas giant Pertamina's Refinery Development Master Plan (RDMP) project in Balikpapan, East Kalimantan, is pictured in an undated photo. (Courtesy of Pertamina)
P
ertamina will partner with foreign investors to develop a strategic crude oil storage facility in Sumatra, aiming to increase the national reserves storage capacity to 90 days, a senior government official has said.
The development marks a critical step for Indonesia, which has long sought to increase its oil storage capacity to mitigate supply disruptions and geopolitical risks.
Southeast Asia's largest economy’s current state reserves, at around 21 days, remain well below the International Energy Agency (IEA) mandate for net importers, which requires emergency stocks equivalent to 90 days of the prior year's net imports.
Indonesia is not an IEA member but has the status of an associate country in the intergovernmental organization.
Laode Sulaeman, the Energy and Mineral Resources Ministry’s director general of oil and gas, said in Jakarta on Wednesday that the project would follow a collaboration model similar to the Refinery Development Master Plan (RDMP), which involves joint ventures between Pertamina and international partners.
“One of the collaborations we will be undertaking is with Pertamina, such as the RDMP,” Laode said on the sidelines of a meeting hosted by the Indonesian Coal and Mineral Energy Suppliers Association (Aspebindo), as reported by Kontan.
“We haven’t disclosed the investment figures yet. The 90-day target has been set since 2024 through a presidential decree,” he added, referring to Presidential Regulation No. 96/2024 on the Energy Buffer Reserves (CPE).
