The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) explained that it would continue to boost oil and gas production for Indonesia's energy needs. Because the demand for oil and gas is predicted to still be large even though the energy transition campaign and the use of renewable energy (EBT) are being echoed. Secretary of the Directorate General of Oil and Gas (Ditjen Migas), Ministry of Energy and Mineral Resources (ESDM) Setyorini Tri Hutami said that to pursue oil and gas production targets by 2030, Indonesia requires an upstream oil and gas investment of USD 20 billion to USD 26 billion per year. Therefore, his party is currently aggressively increasing investment enthusiasm in the upstream oil and gas sector. "The government and SKK Migas are still optimistic about pursuing the oil and gas production target. However, investors are needed to achieve this target. For this reason, various efforts to reveal Indonesia's oil and gas potential are continuing, one of which is by holding the 3rd International Convention of Indonesia Upstream Oil and Gas 2022 (IOG 2022)," said Setyorini in a written statement, Friday (18/11/2022).
He said the government fully supports SKK Migas' steps in holding IOG 2022 with the hope that it will have a positive impact on the upstream oil and gas investment climate. IOG 2022 will be held in hybrid mode on 23-25 November 2022 at the Bali Nusa Dua Convention Center. In this event there will be around 1,000 participants present at the location and it is hoped that 10,000 participants will attend online. This event is expected to attract investors in the upstream oil and gas sector. "In short, the goal of IOG 2022 is to support increased oil and gas investment in Indonesia," he explained. The implementation of IOG 2022 is quite crucial to be able to provide an overview to business actors that Indonesia still needs oil and gas in the energy transition era. "Changes to EBT must go through a transition period. Oil and gas technology must also be able to respond. It is hoped that later a network will be established that can increase investment," he explained. Meanwhile, Member of Commission VII DPR RI Mulyanto said SKK Migas must work hard to attract oil and gas investors with various promotions, fiscal and non-fiscal incentives. "IOG 2022 is one way to do that. I think this is good and needs to be supported," said Mulyanto.
On the other hand, oil and gas practitioner and former President of the Indonesia Petroleum Association (IPA) Tumbur Parlindungan said oil and gas production would continue to decline if there were no new discoveries in Indonesia. Therefore, Indonesia needs a big investment if it wants to increase its production. "The alternative is to invite oil and gas players back to Indonesia to invest," he explained. According to him, Indonesia must make significant changes in the field of bureaucracy. This was done so that investors have more interest in investing their money in Indonesia than in other countries. "Investors will compare Indonesia with other countries that provide returns, ease of doing business and an investment climate that supports the growth of ecosystems that support the operations of investors," he explained. He also supports the IOG 2022 because it can be a platform to increase investor awareness to return to investing in Indonesia's upstream oil and gas sector. "IOG 2022 can be a platform to increase investor awareness to return to investing in Indonesia's upstream oil and gas sector," he said. As additional information, there are three important issues in IOG 2022, namely Economic Recovery, Energy Security, and Energy Transition. These three are in line with the Indonesian Government's program to achieve zero emissions by 2060 and phase-out coal GHG by 2040.
