Jakarta, March 5 -- The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, confirmed that foreign investors have agreed to develop crude oil storage facilities in Indonesia.

"The investment and the investors are already here," he said when met in Jakarta on Wednesday (March 4).

He noted that the parties involved in developing these facilities consist of both foreign and domestic entities, clarifying that the foreign investors are not from the United States.

"The investment is a mix of domestic and foreign, but not the US. The private sector is building the storage," Lahadalia continued.

This indicates that private companies will play a significant role in developing Indonesia's crude oil infrastructure.

The minister o...