India's Essar Group Plans Crude Oil Storage Tank Investment in Indonesia

Jakarta — Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has disclosed plans by Indian conglomerate Essar Group to invest in crude oil storage tank facilities in Indonesia.

Deputy Minister of ESDM Yuliot Tanjung stated that any company seeking to develop storage facilities in Indonesia must align its plans with the needs of existing oil refineries and processing facilities in the country. Essar Group has recently inspected oil processing facilities operated by PT Pertamina (Persero) in South Sumatra.

“This needs to align with our requirements,” Tanjung said during a meeting at the ESDM Ministry office in Jakarta on Friday (13 March 2026). “We may upgrade capacity for Cilacap and Dumai, which serve our domestic refinery network. We will determine the location based on priority evaluations.”

Earlier, PT Pertamina Director Yuliot Mantiri disclosed that the Indian company Essar Group is exploring investment opportunities in oil storage facilities in Indonesia. “Regarding storage, we have already met with Essar Group representatives, and they recently visited our refinery location in Plaju,” Mantiri said at a press conference at the BPH Migas office in Jakarta on Friday (13 March 2026).

The storage development project aims to increase Indonesia’s capacity to hold strategic reserves of crude oil and fuel products. Consequently, Mantiri emphasised that Pertamina remains open to partnerships with various investors possessing the requisite capacity.

“We are open to collaborating with any party to expand our storage capacity,” he affirmed.