Gaining Momentum to Advance Sustainable Energy Security in Indonesia and the Region
Convex News
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...
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...