Indonesia is not an oil-rich country, deputy minister says

PEKANBARU, Indonesia - The assumption suggesting that Indonesia is an oil-rich country is inaccurate, deputy Energy and Mineral Resources Minister Widjajono Partowidagdo said Saturday.

"In reality, Indonesia is not an oil-rich country," Widjajono said at a seminar during the Riau Muslim University Expo 2012.

Speaking at the seminar, Widjajono noted that there were many incorrect perceptions relating to energy issues in Indonesia, including that Indonesia was rich with oil reserves.

He added, however, that Indonesia had other natural resources, such as coal, gas, coal bed methane, geothermal reserves and biofuel.

Widjajono said another common mistake was that investors would automatically come to Indonesia to invest without improvement in the country's investment climate, and that oil-based fuel prices should be cheaper.

Widjajono further noted that Indonesia was rich in renewable energy, such as hydro power, geothermal, biomass, solar and wind energy.

The deputy minister said that in 2011 Indonesia produced 902,000 barrels of oil per day, 1.5 million barrels of gas and 2.4 million tons of coal, Antara news agency reported.

Become a fan on Facebook