Head of the Upstream Oil and Gas Regulatory Task Force (SKK Migas), Djoko Siswanto, has emphasized the role played by upstream oil and gas industry in energy security and supporting energy transition, with direct impact on reduced carbon emissions in the upstream oil and gas sector.

“One of the projects that will have a direct impact in supporting the energy transition is the bp Tangguh UCC carbon capture storage project which will produce gas at peak production of 476 MMSCFD and a potential CCS capacity of 1.8 Giga Tons . This project has an investment value of US$4.5 billion or equivalent to Rp 67.5 trillion with an estimasio on stream by 2029," Djoko told a public lecture at the PLN Auditorium in Jakarta on Wednesday, February 19, 2025. 

Meanwhile, Deputy Minister of Finance, Suahasil Nazara, reminded that the energy transition not only supports economic growth, but also faces various global challenges such as deglobalization, digitalization, climate change, demography, and financial regulations. 

"Indonesia has two promises to the world, namely the commitment in the Paris Agreement and Enhanced Nationally Determined Contributions (NDC), as well as the Net Zero Emission target in 2060. Achieving Net Zero is not easy, but Indonesia must keep its commitment," Suahasil said. 

Special Advisor to the President for Energy, Purnomo Yusgiantoro, conveyed Indonesia's economic growth target of 8 percent based on the President's National Commitment & Vision (Asta Cita) within a period of 5 years, with energy independence and resilience being among the President's priorities. 

Purnomo said energy plays an important role in economic growth in Indonesia, which has great potential in new and renewable energy but has not been ultimately exploited. Therefore, he suggested on the creation of an energy transformation concept. 

"Currently, dependence on coal is detrimental to the health of the Indonesian people. In the future, the cost of renewable energy in Indonesia will likely fall rapidly towards the international reference price," Purnomo said. 

To encourage the success of the energy transition and achieve a low-carbon economy, Purnomo said that pentahelix collaboration is needed between the government, private sector, NGOs, academic Institutions, and the community.