REPUBLIKA.CO.ID, JAKARTA -- Overseas fuel oil reserves are a necessity in current times, according to Minister of Energy and Mineral Resources Sudirman Said.

"We will store fuel abroad and must immediately start reserving and storing fuel oil overseas," Sudirman noted at the Directorate General of Electricity here on Monday.

Storing fuel overseas is required as Indonesia does not have adequate storage facilities, but the need to build the reserves is deemed appropriate if done immediately since the oil prices are still relatively low.

"If you have the money, it is better to buy now, but currently, we do not have sufficient storage facilities. Hence, the way out is to buy and stockpile at the seller country's facility similar to what other buyers do," the minister explained.

Based on the current information compiled by Antara, Indonesia's fuel reserves are fairly low and would last for only some 18-22 days, and the situation is considered vulnerable in terms of Indonesia's energy security.

Singapore has up to 90 days of fuel reserves, while China has stockpiled fuel reserves for up to 90 days, and the United States also has reserves for 260 days.

However, Sudirman admitted that he had not yet determined the country's criteria to backup Indonesian oil storage and not held serious talks with any country regarding the plan.

"We are still uncertain since it depends on further discussion. Still a long way to go, and it has not yet taken into account the technical issues," Said added.

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