The Minister of Energy and Mineral Resources revealed that the National Investment Management Agency (BPI Danantara) will fund downstream projects. President Prabowo decided in a closed-door meeting with the Task Force for Downstreaming and Energy Sovereignty that the first phase of downstreaming in 2025 targets 21 projects valued at approximately US$618 billion. The first project is to build crude oil storage facilities for national energy security. According to a presidential decree, Indonesia needs to increase its oil reserves to 30 days, with one storage site to be built on Nipah Island. The government will also build a refinery with a daily capacity of about 500,000 barrels to enhance energy security, and a dimethyl ether project using low-calorie coal as feedstock to replace imported LPG. Downstream projects also include increasing the added value of commodities such as copper, nickel, and bauxite into alumina, as well as projects in agriculture, fisheries, and forestry to support national economic stability, including increasing the added value in the processing of copper, nickel, and bauxite.
The Minister of Energy and Mineral Resources revealed that the National Investment Management Agency (BPI Danantara) will fund downstream projects. President Prabowo decided in a closed-door meeting with the Task Force for Downstreaming and Energy Sovereignty that the first phase of downstreaming in 2025 targets 21 projects valued at approximately US$618 billion. The first project is to build crude oil storage facilities for national energy security. According to a presidential decree, Indonesia needs to increase its oil reserves to 30 days, with one storage site to be built on Nipah Island. The government will also build a refinery with a daily capacity of about 500,000 barrels to enhance energy security, and a dimethyl ether project using low-calorie coal as feedstock to replace imported LPG. Downstream projects also include increasing the added value of commodities such as copper, nickel, and bauxite into alumina, as well as projects in agriculture, fisheries, and forestry to support national economic stability, including increasing the added value in the processing of copper, nickel, and bauxite.