To increase national capacity in the oil and gas sector and other sectors, the utilization of domestic components in the oil and gas industry must be optimized
Jakarta (ANTARA) - Vice President Ma'ruf Amin called to increase the utilization of domestic components in the oil and gas industry in order to boost national capacity.

Amin made the statement at the 2022 National Capacity Forum II themed, "National Capacity Building to Strengthen Indonesia's Role in the Upstream Oil and Gas Industry," at the Jakarta Convention Center, Jakarta, on Wednesday.

"Contribution of the oil and gas industry to other industries will be very beneficial for increasing national capacity. To increase national capacity in the oil and gas sector and other sectors, the utilization of domestic components in the oil and gas industry must be optimized," Amin emphasized.

The vice president also lauded the contribution of the upstream oil and gas industry to state revenues, which until June 2022, was recorded to have reached US$9.7 billion, or around 97 percent of the 2022 state budget target.

Meanwhile, in terms of the trade balance during the January-June 2022 period, the overall surplus was recorded at US$24.8 billion, or more than doubled as compared to the achievement in the first half of 2021 of US$11.8 billion.

"However, it should be noted that the surplus came from the non-oil and gas trade balance surplus. Meanwhile, the oil and gas trade balance was still in deficit, especially from May to June 2022, due to the increase in oil and gas imports that had been higher than the increase in oil and gas exports," Amin remarked.

The vice president reminded related parties that Indonesia still had homework to restore independence in the energy sector.

According to Amin, the increase in oil and gas production should continue to be pursued together to maintain the contribution to the national economy by prioritizing a balance between the economy and ecology.

"Moreover, we are currently facing an abnormal condition of the world's energy supply, the climate crisis, war, and the threat of stagflation that may hamper efforts to recover the global economy," Amin added.

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Translator: Rangga Pandu A J, Resinta S
Editor: Sri Haryati
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