Category Archives: News Intelegence
Indonesia’s invitation to invest in exploration ...
Following the latest bid round in November 2021, the Special Task Force for Upstream Oil and Gas Business Activities Republic of Indonesia, SKK Migas, is offering more asset blocks for potential investors. Through this offering, the country aims to further explore identified prospects, monetize previous discoveries, develop fields with an already-approved plan of development (POD), and achieve target production of 1 MMbo/d and 12 …
Exploration is needed to support Indonesia’s future en...
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 for the gas reserves of 77 trillion cubic feet …
Big Oil’s exit from South-east Asia may crimp su...
JAKARTA – The Covid-19 pandemic and an ongoing shift to renewables are accelerating an exodus of the world’s largest oil and gas companies from South-east Asia, dimming prospects for investment and raising the possibility of supply shortages once demand recovers. United States and European oil majors have either announced or are thought to be in talks to shed US$5.7 billion (S$7.7 billion) of oil …
Govt’s flexible oil and gas contract choice ‘positive’...
The government’s decision to allow oil and gas producers to choose production sharing contracts (PSCs) is a positive step forward for investors in the upstream industry, compared with the less favorable gas ceiling policy, according to energy consultancy Wood Mackenzie. The Energy and Mineral Resources Ministry ruled on July 15 that all producers may choose between either using a gross split-type PSC or a …
Rumitnya Menambal Cadangan Gas Nasional
Defisit gas diprediksi terjadi pada 2023. Empat proyek gas yang masuk dalam daftar strategis nasional guna menutup kurangnya pasokan gas belum berjalan hingga sekarang. Dalam beberapa tahun terakhir cadangan gas di Indonesia terus mengalami penurunan. Kondisinya semakin runyam karena kegiatan eksplorasi yang semakin sedikit. Akibatnya, negara ini diproyeksi mengalami defisit gas pada 2023. Direktur Pembinaan Program Migas Kementerian Energi dan Sumber Daya Mineral Soerjaningsih …
Government optimistic of realizing one million bpd oil...
We have a long-term program to realize the production target, our lifting target. We have targeted oil production at one million barrels per day by 2030. Jakarta (ANTARA) – The government remains sanguine about realizing the oil lifting target of one million barrels per day (bpd) in 2030. Energy and Mineral Resources Minister Arifin Tasrif shared the optimism by affirming that 68 of the …
Kementerian ESDM Temukan Potensi Migas untuk Ketahanan...
Kementerian ESDM melalui Badan Geologi telah melaksanakan survei seismik di enam wilayah yang menghasilkan 38 rekomendasi WK migas. Kementerian Energi dan Sumber Daya Mineral atau ESDM terus berupaya melaksanakan kegiatan eksplorasi untuk menemukan potensi migas baru. Dengan begitu, ketahanan energi nasional bisa terjaga. Kepala Badan Geologi Eko Budi Lelono menjelaskan kegiatan eksplorasi yang telah dilaksanakan pemerintah berupa akuisisi data seismik di enam lokasi. Kegiatan …
Money short, auctions delayed in virus-stricken petrol...
The domestic oil and gas industry is reeling under the pressures of the global pandemic as investment falls short and block auctions are delayed. Realized investment in 2020 hit US$5.56 billion in June, or 38 percent of the most recent year-end target of $14.5 billion, said the Energy and Mineral Resources (ESDM) Ministry’s acting oil and gas director general, Ego Syahrial, on Wednesday. “That …
SE Asian NOCs find strength in numbers
A Petronas-Pertamina crude swap agreement was the latest instance of Southeast Asian NOCs teaming up to tackle shared energy security challenges. The $500mn crude oil swap deal between Malaysia’s Petronas and Indonesia’s Pertamina signed on 18 February was the latest in a trend of collaborative moves between NOCs in the region to boost efficiency and energy security. The deal targets midstream logistical savings but …
Govt hopes for more oil and gas exploration
Judith Collins made the comments despite three years of falling responses to the government’s so-called Block Offer. Under this scheme, companies compete to win the rights to explore for petroleum. Last year, one made the final cut. The previous year, it was nine. A year before that, it was 15. The price of oil, which fell from about $US115 a barrel to about $US30 …
Oil has bottomed, and here’s how I’m cashing in: Trade...
According to one trader, crude oil has gotten so bad, it looks good. Crude has tumbled almost 9 percent since the start of the year due to fears about rising supply from the United States, as well as anxieties that key OPEC members may not adhere to the organization’s production cuts. Todd Gordon of TradingAnalysis.com, however, believes that oil has not only found support, …
Will they or won’t they? Here’s what to watch as oil p...
Saudi Minister of Energy Khalid Al-Falih speaks to reporters during the 10th edition of the World Future Energy Summit on Jan. 16, 2017. As the price of oil languishes at a three-month low, traders are wondering whether petroleum producers will extend their six-month agreement between OPEC and non-OPEC producers to cut output when it comes up for renewal on May 25. Following the …