Indonesia Reaches Out to Oklahoma for Business Relationships

The Oklahoma Commerce Department suggests oil and gas industry representatives in the state might be interested in a coming event featuring the Consulate General of the Republic of Indonesia.

The Indonesia-Oklahoma Business forum will be held Aug. 29 at the Skirvin Hilton hotel in downtown Oklahoma City. It will begin at 10 a.m. and continue through 1 p.m.

“Of particular interest to Oklahoma companies, the Indonesian Ministry of Energy & Mineral Resources will be presenting on the oil & gas sector,” stated the Commerce Department announcement. “This event will be a good opportunity for Oklahoma companies interested in learning more about export and investment opportunities in Indonesia.”

The forum will focus on an update of Indonesia’s trade and investment policy, opportunities for Oklahoma companies to do business in Indonesia and business matching with the Indonesian business delegation.

As for oil and gas exploration in the country, companies have been unwilling to invest because of low crude oil prices. Many companies have sold assets, laid off workers and rolled back exploration and investment plans. The low energy prices have led to a decline also in the country’s oil and gas reserves.

As one report indicated, Indonesia produces only about 829,000 barrels of oil a day while the country consumes 1.63 million barrels a day. It means the country will lean more and more on oil and gas imports.