A Strategic Commitment

According to Indonesia’s Minister of Investment and Head of the Investment Coordinating Board (BKPM), Rosan P. Roeslani, ExxonMobil’s commitment far surpasses previous pledges by other major players, including BP, which had earlier announced a $7.1 billion investment in CCS/CCUS initiatives in the country.

“ExxonMobil conveyed its commitment to invest up to $15 billion in the development of the very significant CCS/CCUS project,” said Roeslani, highlighting the importance of these technologies in meeting Indonesia’s sustainability targets.

CCS/CCUS technologies are pivotal in capturing and storing carbon emissions from industrial processes, aligning with global decarbonization efforts and Indonesia’s commitment to reducing its carbon footprint.

Foreign Investment Optimism

The meeting also served as a platform for representatives of the US-ASEAN Business Council (US-ABC) to express their confidence in Indonesia’s investment climate under President Prabowo’s leadership.

“President Prabowo emphasized that there is no tolerance for corruption or other obstacles that can disrupt investment. The rule of law will be enforced to provide a sense of security for investors,” Roeslani stated.

The Indonesian government has prioritized fostering an environment conducive to business and strengthening collaboration between foreign and local investors to promote sustainable economic growth.

Beyond Financial Commitment

Roeslani emphasized that large-scale investments like ExxonMobil’s are expected to drive technological advancements simultaneously as local human resources development.

“When they invest, it is hoped that they will also develop our human resources, so that there is a transfer of technology that has a positive impact on local workers,” he added.

Strengthening Indonesia’s Position

The government views ExxonMobil’s investment as a vote of confidence in Indonesia’s growing strategic investment appeal, particularly in sustainable energy and industrial downstreaming.

“This measure can strengthen Indonesia’s position as a strategic investment destination in Southeast Asia,” Roeslani concluded, noting the optimism surrounding the country’s ability to attract and sustain foreign investments in emerging sectors.

With this $15 billion pledge, ExxonMobil will play a key role in Indonesia’s energy transition and sustainability efforts, setting a benchmark for future foreign investments in the region.

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