emirates7 - On Friday, Indonesian President Prabowo Subianto officially launched two offshore oil and gas projects, describing them as a key step toward achieving national energy independence.

Prabowo, who has committed to strengthening energy security in Southeast Asia’s largest economy, also reaffirmed his promise to transition away from coal power and achieve net-zero emissions by 2050. “Reaching energy self-sufficiency is essential for our nation's sovereignty,” he stated.

He further emphasized the financial benefits, saying, “Achieving energy self-reliance could save us tens of billions of US dollars.”

The two projects, valued at $600 million and managed by local company Medco E&P Natuna in the South Natuna Sea, are expected to yield 20,000 barrels of oil per day, according to Energy and Mineral Resources Minister Bahlil Lahadalia.

At the G20 summit last year, Prabowo vowed to shut down hundreds of coal and fossil-fuel power plants by 2040 in Indonesia—a country that ranks among the world’s top coal producers and consumers.

The government also announced its goal to develop more than 75 gigawatts of renewable energy capacity by 2040.