Manama: Indonesia inaugurated two oil and gas projects in the South Natuna Sea, west of the country, with a total cost of $600 million. The move aims to strengthen energy self-sufficiency for Southeast Asia's largest economy.
According to Bahrain News Agency, President Prabowo Subianto emphasised Indonesia's commitment to boosting energy security and gradually phasing out coal to achieve net-zero emissions by 2050. He noted that energy self-sufficiency would save the country billions of dollars.
Energy and Mineral Resources Minister Arifin Tasrif stated that the two projects, operated by Medco E and P Natuna, aim to produce 20,000 barrels of oil per day. Plans are also in place to develop 75 gigawatts of renewable energy capacity by 2040.