PT Pertamina (Persero) plans to budget for investment in the energy sector, amounting to US$ 10.7 billion this year.

"This year, we have allocated US$ 10.7 billion to invest in the energy sector," said the President Director of PT Pertamina (Persero), Nicke Widyawati, during the Energy Outlook 2021 event,  on Thursday (4/2).

According to him, this figure has increased dramatically from year to year. The rise in investment is in line with Pertamina's commitment embodied in the investment budget.

"We allocate this investment budget, both to strengthen existing businesses and to develop new and renewable energy businesses and energy conservation," he added.

He added that Pertamina carried out eight programs to support new and renewable energy. The details are green refineries, bioenergy, geothermal, green hydrogen, electric vehicle batteries, gasification, other new and renewable energies, and a circular carbon economy.

"For green refineries, the refineries in Dumai and Plaju will be converted into green refineries such as biodiesel, biogasoline, and bio avtur," he said.

Regarding geothermal, he said that currently, the utilization is only about 7%. The plan is for consolidating SOEs assets related to geothermal to produce optimal products.

"Meanwhile, Pertamina has carried out other new and renewable energies by building power plants from palm oil waste and biomass. Starting last year, we have installed solar EV at the Cilacap refinery, and it will be built in Balongan, "he explained.