Indonesia
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Asian markets continue to represent the leading edge of global economic growth, and with many of the international oil companies divested from the region, Southeast Asian operators in particular see themselves well positioned for the future.
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The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures.
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Indonesia is home to numerous oil and gas fields, and upstream oil and gas activities are integral to the country's economic growth. Here are the key regulatory changes in response to the COVID-19 pandemic affecting Indonesia's oil and gas sector.
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Duri Field in Indonesia is the largest active steamflood project in the world. The field produces 73,000 BOPD, and 10,000 optimization jobs are executed annually to support base production.
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Indonesia’s production of both oil and gas will most likely fall in 2020, a Rystad Energy analysis shows, despite the country’s official projections of a combined 8% growth year-on-year.
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A ministerial decree in Indonesia has set the data model from the Professional Petroleum Data Management Association as the country's industry standard for upstream oil and gas data.
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Backed with the intention of promoting new investments in the oil and gas upstream industry, Indonesia's minister of energy and mineral resources recently enacted a new regulation to replace the 13-year-old regulation on upstream oil and gas data management and use.
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The Japanese operator will submit a development plan to the Indonesian government within the next few weeks, with FID for the $20-billion project coming around 2022. Abadi LNG is projected to deliver 9.5 mtpa of LNG.
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Conventional oil and gas discovered resources in 2019 are on pace to rise 30% from last year and reach their highest level since the beginning of the industry downturn. Here, a recap of the first quarter's 15 biggest oil and gas discoveries, which altogether are propelling the increase.
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Aerial surveillance of oil and gas operations can help in decision-making and lead to quick and appropriate responses to deal with potentially detrimental matters.