JAKARTA, Dec. 11 (Xinhua) -- Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia said Wednesday he plans to visit the oil refinery expansion project in East Kalimantan's Balikpapan to ensure smooth progress and reduce the country's reliance on oil imports.
The project, part of Indonesia's Refinery Development Master Plan (RDMP), has been designated a national strategic initiative aimed at enhancing the refinery's processing capacity.
While expressing his concern over the country's declining oil lifting (post-sale production), which has led to increased oil imports amid rising global prices, Bahlil said he intends to collaborate with Investment Minister Rosan Roeslani for a joint inspection of the RDMP project.
"This is Rosan's and my responsibility to check the project. If the RDMP project isn't completed, our oil imports will keep rising," he said.
He noted that the country's oil lifting dropped to 600,000 barrels per day (bpd) this year, while domestic oil consumption reached 1.6 million bpd.
"This situation affects our trade balance, balance of payments, foreign exchange reserves, energy security, and the president's downstream sector development program," he added.
The RDMP project in Balikpapan, valued at 7.4 billion U.S. dollars, is expected to increase the refinery's capacity by 100,000 bpd, bringing its total processing capability to 360,000 bpd. ■
