Shell Plans to Boost Investment to $25 bn in Indonesian Oil, Gas Sector

Royal Dutch Shell plans to boost investment in Indonesia to $25 billion in the next 10 years to develop oil and gas fields, according to Energy and Mineral Resources Minister Jero Wacik.

The investment by the Anglo-Dutch energy company will be allocated for the development of oil and gas blocks in Masela, in Maluku province as well in as other regions, Jakarta Globe quotes the minister as saying.

According to estimates, Masela Block is estimated to have 18.47 trillion cubic feet of proved and probable gas reserves.

Peter Voser, outgoing chief executive of Shell and Shell’s newly appointed chief executive, Ben van Beurden, presented Shell’s major investment plan to President Susilo Bambang Yudhoyono in Surabaya on Saturday, reports Jakarta Globe.

During the meeting, Yudhoyono mentioned that Indonesia needs to develop renewable energy technologies to reduce its dependency on imported fuel.

Shell has been operating in Indonesia since 1880, following its first oil discovery in Pangkalan Brandan, North Sumatra.

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