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Indonesia’s upstream picks up the pace
The government is optimistic that increasing offshore activity and exploration will help revive flagging production, despite energy security fears
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Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
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A burgeoning middle class is boosting demand for refining capacity in Asia, with China leading the way and India also with many projects underway
Indonesia seeks to revitalise 1m b/d oil production dream
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
Indonesia prioritises domestic needs over LNG exports
The country’s hunger for energy will continue to compete with its LNG exports, even as more gas projects progress and new liquefaction capacity comes online
Jadestone sees opportunities in Southeast Asia
The AIM-listed independent is pushing ahead with developments in Indonesia, Malaysia and Vietnam, CEO Paul Blakeley tells Petroleum Economist
Indonesia looks to gas to cover growing energy needs
Recent elections and on-going LNG developments highlight the importance of domestic gas demand in the sprawling island nation
Indonesia considers LNG export restrictions
Rising domestic demand and the pressures of net zero are prompting the Southeast Asian country to look at limiting outflows of gas
Asia’s NOCs chart paths to decarbonisation
But none of the companies are poised to abandon oil and gas anytime soon
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Indonesian crude output has fallen to around 700,000bl/d
Indonesia Pertamina Chevron ConocoPhillips Shell
Simon Ferrie
17 June 2021
Follow @PetroleumEcon
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Indonesia’s upstream shifts as IOCs exit

State-owned Pertamina may see further expansion of its role if more international firms exit without finding alternative buyers

“We believe ConocoPhillips has a significant advantage over our [US] independent peers because we also have diverse global businesses that generate significant free cash flow.” So said Nick Olds, the firm’s senior vice-president, strategy and technology when the US superindie reported its first quarter results in early May. But, while admitting it was only a “brief update” of the firm’s non-Lower 48 operations, Olds focused solely on Alaska, Canada, Norway, Qatar, Australia and Malaysia. And that has done nothing to dampen speculation that ConocoPhillips might be the next IOC to depart Indonesia, potentially selling its equity position in south Sumatra’s onshore Corridor block—which accounts

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