In a significant move to strengthen national energy security, state-owned energy giant Pertamina is set to partner with international investors to develop a major strategic crude oil storage facility in Sumatra. The project aims to dramatically increase Indonesia’s national reserves, targeting a storage capacity equivalent to 90 days of imports. Currently, Indonesia’s oil reserves hover around a 21-day supply, falling significantly short of the 90-day mandate set by the International Energy Agency (IEA) for net importers. Although Indonesia is an "associate country" rather than a full IEA member, the government is treating the 90-day target as a critical benchmark for fiscal and energy stability.The legal framework for this expansion is rooted in Presidential Regulation No. 96/2024 regarding Energy Buffer Reserves (CPE). The policy outlines a phased buildup of reserves, which includes:10 million barrels of crude oil, 9.6 million barrels of fuel, 523,000 tonnes of LPG. A target completion date for these reserves set for 2035, aligned with the state’s fiscal capacity. The Sumatra project will follow a collaboration model similar to the Refinery Development Master Plan (RDMP), utilizing joint ventures between Pertamina and global partners.  The urgency of the project has been amplified by the current administration. Energy Minister Bahlil Lahadalia emphasized that President Prabowo Subianto has ordered a "fast-tracked" construction process to reduce the nation's vulnerability. While the government remains open to a blend of domestic and foreign investment, Minister Bahlil explicitly ruled out participation from the United States for this specific venture, though he did not specify which other foreign investors have expressed interest. (ICE GIACARTA)

Fonte notizia: The Jakarta Post 13/03/2026