Convex News
Gas, a cleaner energy option
As stated in the National Energy Plan, Indonesia is committed to develop renewable energy to make up to 23% of the national energy mix in 2025. However, the transition to renewable energy will take time and requires big investment. In this period of transition, natural gas has become an option for cleaner energy to reduce...
Industry Calls for Government Support amidst the Covid-19 Pandemic and Low Oil Gas Price
The Covid-19 pandemic has smothered global oil demand and the price war between Saudi Arabia and Russia has pushed the oil price down to around US$ 30 per barrel. Though it is not the first-time the oil price has reached such a low level, the current Covid-19 pandemic has made the situation more complex. For...
The Government Will Continue Streamlining Oil and Gas Permits
The government continues to streamline the permits that are needed in the oil and gas sector to speed up oil and gas projects and boost up lifting in order to achieve the target of 1 million barrels of oil per day (BOPD) in 2030. “Among the permits that has been deleted are ministry regulations, director...
A lower gas price should not hinder upstream oil and gas investment
The government have decided to lower the gas price for national industries to US$ 6 per million british thermal unit (MMBTU) starting on April 1st, 2020 and have stated that a lower gas price is required to strengthen the competitiveness of domestic industries and ultimately to boost overall economic growth. The government has also promised...
Oil and gas exploration success stories spark promise for Indonesia
The discovery of 2 trillion cubic feet of recoverable gas resources in the Kali Berau Deep Field in South Sumatera in early 2019 marked a new era of oil and gas exploration in Indonesia. Prior to it, it was almost two decades since the last significant discovery in Indonesia which was the Banyu Urip Field...
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...