Oil and gas resources continue to play an important role in Indonesia’s economy. In a bid to maintain its contribution to the national economy and production, the upstream oil and gas sector has set a quite ambitious long-term target, namely achieving production of 1 million barrels of oil per day,…
Jakarta (ANTARA) – Indonesia’s government has pressed Sinopec Group, a Chinese oil and gas conglomerate company, for materializing the construction of an oil depot worth Rp12 trillion in Batam, Riau Islands Province, which was stalled for eight years. “On July 29, 2020, Sinomart KTS Development LTD, a subsidiary of Sinopec,…
Petrochemical producer PT Trans-Pacific Petrochemical Indotama (TPPI) has begun work to expand its sole refinery in Tuban, East Java, in cutting Indonesia’s petrochemical imports. TPPI, a subsidiary of state-owned oil and gas giant Pertamina, plans to raise its output capacity by 30 percent to 780,000 tons per year. The refinery…
PT Medco Energi Internasional, Indonesia’s second-biggest homegrown oil and gas company, has begun piping natural gas from the Offshore Madura Block in East Java. The publicly listed company piped 20 million metric standard cubic feet per day (mmscfd) of gas from the Meliwis Field in the Madura Block on July…
Oil and gas companies in Indonesia may now choose to either use a cost recovery or gross split-based production sharing contract (PSC) thanks to a recently issued regulation. Energy and Mineral Resources (ESDM) Ministerial Regulation No. 12/2020, signed on July 15, revokes a rule that had made use of a…
The government expects domestic ready-to-use oil and gas production to reach between 1.76 million and 1.91 million barrels of oil equivalent per day (boepd) in 2021, as part of macroeconomic assumptions in next year’s draft state budget. The expectation is higher than this year’s expected 1.70 million boepd but lower…
Gas Indonesia Summit & Exhibition (GIS) is returning for the 5th edition in Jakarta and is shaping the Gas, LNG & Energy Dialogue in Indonesia. Join us in Jakarta from 10 – 12 June 2020 and connect with Indonesia’s gas, LNG and energy decision makers as they share their insights…
One of the biggest liquefied natural gas (LNG) exporters, Qatar, is working with importers in China to reschedule or re-route some oil and gas cargoes to the world’s second-largest LNG importer amid the coronavirus outbreak, Qatar said late on Wednesday. “All concerned Qatari energy companies are already working closely with their Chinese…
Jakarta (ANTARA) – At least 12 oil and gas projects will start operational in 2020, Indonesia’s Ministry of Energy and Natural Resources said. The projects are expected to help develop more new resources and increase the yield for exports and domestic needs. “The President (Joko Widodo) has instructed us to…
JAKARTA: Indonesian government will allow state oil and gas company PT Pertamina to import 50 million barrels of crude oil in 2020, lower than requested, energy ministry’s acting oil and gas director general, Djoko Siswanto, said. The crude import quota is around 30 million barrels short of what Pertamina requested, he told reporters, to encourage Pertamina to…
