Virtual Forum to Explore Oil and Gas Opportunities in BIMP-EAGA
July 16, 2021
BIMP-EAGA is rich in energy resources, both conventional and renewable, including geothermal power. Photo credit: Asian Development Bank
An oil and gas expo highlighting business opportunities in BIMP-EAGA is slated on 23 to 24 August.
According to the event’s program, the BIMP-EAGA Energy Online Conference & Exhibition 2021 will feature top government and industry officials as resource speakers and offer networking opportunities. The event is organized by Kota Kinabalu-based Midas Events Management and supported by the BIMP-EAGA Business Council (Sabah).
Electricity for all
Energy security is key to BIMP-EAGA’s economic growth, The subregion is rich in energy resources, both conventional and renewable.
The West Borneo Economic Corridor is BIMP-EAGA’s oil and gas corridor as it passes through areas of Brunei Darussalam, West Kalimantan in Indonesia, and Sarawak and Sabah in Malaysia that are major exporters of crude petroleum and natural gas.
Sources of renewable energy include natural gas, hydropower, solar, bio-mass, wind, and geothermal energy.
The subregion needs massive infrastructure investments for power generation, transmission, and distribution to improve access to electricity in the remote and less-developed areas of the subregion. According to the Vision 2025 plan, the four BIMP-EAGA countries Brunei Darussalam, Indonesia, Malaysia, and the Philippines want to bring electricity to all rural households in the subregion by 2025.
One of the priority projects that has been completed in the subregion is the Trans-Borneo Power Grid Sarawak–West Kalimantan Interconnection Project, the first between Indonesia and Malaysia. The project is considered a model for future power grid interconnections in the subregion and paves the way toward realizing the ASEAN Power Grid.
Challenges and opportunities
The virtual forum intends to discuss the challenges, opportunities, and solutions in the oil and gas industry and in the power and energy infrastructure sector. It will look at how the subregion can transition to clean and renewable energy, industry trends, latest technologies, prospects in transmission and distribution projects, among others.