Malaysia’s Petronas Gears Up For Expansion In Indonesia
2024-10-30 16:38
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Wedoany.com Report-Oct 30 , Malaysia’s state-owned oil and gas company Petronas has announced an “aggressive” expansion plan in Indonesia, Reuters has reported.
The company aims to establish a hub for its operations in East Java and explore investment opportunities in the country’s eastern regions.
The move comes as Indonesia’s new government, led by President Prabowo Subianto, has committed to enhancing energy development to counteract the decline in output experienced by the former OPEC [Organization of the Petroleum Exporting Countries] member.
Petronas’ head of Indonesia Yuzaini Md Yuso has expressed the company’s optimism about recent regulatory changes that have simplified the development of energy projects.
Petronas currently operates four oil and gas blocks in Indonesia, three of them in the East Java region, and holds interests in several others.
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