Convex News

Comparison between PSC Gross Split and Cost Recovery

One of the key considerations for an oil and gas company before making an investment is the type of contract that will be used in the country concerned. In order to increase investment in the upstream sector, Indonesia decided to use the Gross Split scheme as the new type of production sharing contract (PSC) in...

Indonesia Needs Oil and Gas to Develop the Petrochemical Industry

Amidst the rise of electrical vehicles, the oil and gas industry remains important for Indonesia in the future. While fuel demand is predicted to decrease, the oil and gas industry will still be needed to develop Indonesia’s petrochemical industry and President Joko Widodo is aiming to stop the import of petrochemical products in 2024. According...

Millennial’s Big Chance in the Oil and Gas Industry

Indonesia still has a huge oil and gas potential to be explored. The dream of millennial’s to work within the industry remains bright and full of hope. Nayesha Safira Elta is one of the Indonesian millennials who work in the oil and gas industry. According to Nayesha, the assumption that the oil and gas industry...

EOR – To Increase the Existing Production

Related to the Government’s target of 1-million-barrels of oil per day in 2030, SKK Migas have developed some planned actions which need to be performed by all of the respective parties within the industry. These actions are maintaining base production, ensuring the transformation from reserves to production, enhanced oil recovery (EOR), and exploration. As one...

Exploration is needed to support Indonesia’s future energy needs

Oil and gas are non-renewable energy resources and cannot be readily replaced by natural means at a quick enough pace to keep up with consumption. The Ministry of Energy and Natural Resources have stated that  Indonesia’s oil reserves of around 3,77 billion barrels will run out in about 9 years at today’s production rate, while...

Oil and Gas Sector Still Holds an Important Role for Future Energy Supply

The Indonesian Government continues to accelerate the transition to renewable energy to secure domestic energy supply. Indonesia is set to pursue a renewable energy portion of 23% in the national energy mix in 2025. The declining oil and gas reserves in the last few years have pushed the Government to swiftly develop renewable energy resources....

Indonesia to push oil production to 1 million BOPD

After years of declining oil production, Indonesia once again aims to reach 1 million barrels of oil per day (BOPD) of production in 2030. A new giant oil and gas discovery is needed to realize this target. Earlier this week, Minister of Energy and Natural Resources Arifin Tasrif presented the projected oil and gas production...

INDONESIA AIMS FOR NEW INVESTMENT TO BOOST UP OIL AND GAS PRODUCTION

The Upstream Oil and Gas Special Task Force (SKK Migas) have stated that new investment is needed to increase Indonesia’s oil and gas production. Since last year, SKK Migas has rolled out a road show presenting the country’s oil and gas potential to several international oil companies. They claim that Indonesia is still one of...