Shell plans to enter upstream market in Indonesia

Hans David Tampubolon, The Jakarta Post, Kuala Lumpur, Sat, 07/09/2011

Royal Dutch Shell Chief Executive Officer (CEO) Peter Voser says that his company plans to enter the upstream market in Indonesia within the next few years while further developing its downstream business.

“For Shell, Indonesia plays an important role in Asia, in line with population growth, market development and significant demand,” Royal Dutch Shell CEO Peter Voser said during a discussion with journalists at the Sepang International Circuit in Kuala Lumpur, Malaysia, on Friday.

Speaking about the future of energy, Voser said Shell had three pillars for the future, namely more energy, cleaner energy and smarter energy. For more energy, Shell is developing new sources of oil and gas that the world will need.

“Renewable energy sources will supply up to 30 percent of global energy by 2050, while now it is only 13 percent. Shell invested over US$100 billion from 2011 to 2014 to develop new energy. In 2010 we invested more than $1 billion for research and technology development,” Voser said.