B Dewi Balqis, B. Armansyah
The energy transition from fossil fuels to renewable sources for Net Zero Emissions (NZE) is driven by the climate crisis and the 2015 Paris Agreement, pushing nations toward green policies and prompting oil and gas companies to invest in new and renewable energy (NRE). The oil and gas sector faces immense pressure to decarbonize, emphasizing innovative decarbonization technologies and integrating more NRE into their core business. However, substantial barriers persist, including technological constraints, high investment costs, and the intermittency of renewable energy. In Indonesia, the NZE target outlined in the National Energy General Plan faces constraints due to continued reliance on fossil fuels and insufficient renewable energy infrastructure. While this transition presents opportunities for NRE, some sources necessitate support from energy storage technologies and/or substantial initial investments. This study identifies a discrepancy between the government's planned targets for renewables and the actual progress achieved, where detailed implementation strategies remain unclear. Considering the inherent financial and investment risks, this study examines various strategies and alternative scenarios for oil and gas companies to participate in the renewables business, each adjusted to the companies' needs and capacities. Achieving NZE targets requires greater commitment and concerted efforts from all stakeholders. © 2025 Published under licence by IOP Publishing Ltd.
Alumna, Department of Industrial Engineering, Faculty of Engineering, Brawijaya University, Malang, 65145, Indonesia; Alumni, Department of Civil Engineering, Faculty of Civil Engineering and Planning, Sepuluh Nopember Institute of Technology, Surabaya, 60111, Indonesia
