Indonesia's energy minister said the country had targeted six million hectares to develop its biofuel industry in efforts to remedy the country's reliance on oil.

Indonesia's energy and mineral resources minister, Purnomo Yusgiantoro, said the land allotment would see investments in biofuel projects to the tune of some US$20 billion.

Indonesia's "land (is) about equivalent to 100 million hectares and we are ready for the biofuel (in) about six million hectares," he told reporters after an investment forum in Kuala Lumpur on Friday.

"For the six million hectares, I think we are talking about US20 billion," he said, when asked how much the biofuel projects were worth.

"This is overall, on farm, off-farm, investment," he said. "That's appoximately our calculation."

The biofuel projects were expected include "both domestic and overseas" firms, he added.