ExxonMobil (NYSE:XOM) and Pertamina, the state-owned energy company of Indonesia, have signed a joint study agreement to assess the potential for large-scale implementation of lower-emissions technologies, including carbon capture and storage (CCS), as well as hydrogen production.
Chevron (NYSE:CVX) and Pertamina will together explore potential business opportunities in geothermal, carbon capture utilisation and storage (CCUS), as well as hydrogen, in Indonesia, after signing an agreement in Washington.
Inpex’s (TYO:1605) proposed Abadi liquefied natural gas (LNG) plant in the Masela Block offshore Indonesia, which has long struggled to gain traction, has been delayed even further with a final investment not targeted until the latter half of this decade. Significantly, the project looks increasingly unlikely to be developed.
Indonesia’s national oil and gas company Pertamina has decided to cancel an earlier plan to buy discounted crude oil from Russia as domestic fuel stocks are now deemed sufficient.
Upstream oil and gas projects with over 1.4 billion barrels of resources and $8.5 billion worth of greenfield investments are targeted for final investment decisions (FIDs) in Southeast Asia this year, based on operators’ plans, reported Rystad Energy. However, delays are likely with more activity expected to happen next year, noted the energy consultancy.
BP (LON:BP) has restarted its second liquefied natural gas (LNG) export train at the Tangguh complex in Indonesia following a shutdown due to mechanical irregularities. The Tangguh Train 2 plant has a processing capacity of 3.8 million tonnes per year of LNG.
Japanese engineering company JGC and Indonesia’s national energy company Pertamina said they will study prospective joint projects in the decarbonisation business field after signing a memorandum of understanding (MoU).
BP (LON:BP) has temporarily shut down operations at its second liquefied natural gas (LNG) export train at the Tangguh complex in Indonesia following mechanical irregularities. The Tangguh Train 2 plant has a processing capacity of 3.8 million tonnes per year of LNG.
Renewable energy developer Quantum Power Asia agreed to advance a potential $5 billion plan to export electricity generated from solar in Indonesia to Singapore as the city-state attempts to accelerate its use of renewables and cut its reliance on imported liquefied natural gas (LNG).
Japan’s Mitsui and Indonesian state-backed energy company Pertamina will jointly study carbon capture, utilisation and storage (CCUS) commercialisation options in Indonesia.
The Indonesian government is preparing to launch domestic legal action against Thailand’s PTT Exploration & Production (PTTEP) (BKK:PTTEP) relating to economic and environmental damages suffered by local people around Kupang following the 2009 Montara oil spill.
The Indonesian government estimates that Southeast Asia’s largest economy will need investments of up to $25.2 billion to develop green hydrogen from 2031 to 2060. Significantly, state-backed Pertamina is looking to invest some $11 billion to help accelerate the clean energy transition, including hydrogen developments, over the next five years.
Specialist solar batteries supplied by Saft, a subsidiary of TotalEnergies, are providing power continuity for Pertamina’s GG unmanned gas wellhead platform offshore Indonesia. The platform is operated by Pertamina Hulu Energi (PHE) ONWJ, Indonesia’s state-owned oil and gas company and produces around 40,000 barrels of oil per day.
Repsol finished its 3D seismic shoot in Indonesia’s South East Jambi block onshore Southern Sumatra in December 2021 and is currently evaluating the data.
South Korea’s Samsung and Hyundai will collaborate with Global Green Growth Institute (GGGI) on a $1.2 billion clean energy project in Indonesia to produce green hydrogen.
Indonesia’s national energy company Pertamina plans to spend up to $11 billion over 2022-2026 to help develop its renewables business as the company seeks to accelerate the energy transition.
Harbour Energy (LON:HBR) is on track to start high impact exploration drilling in its Andaman II PSC offshore Indonesia in the second quarter this year. The news adds to the excitement in Indonesia as other companies, including BP (LON:BP), look set to probe the archipelago’s deep waters, following recent fiscal and regulatory enhancements.
Malaysia’s Petronas will explore the North Ketapang Block after winning the shallow-water acreage onshore and offshore East Java in Indonesia’s Petroleum Bid Round 2021.
BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, exit recently.
Activists are calling for better geothermal safety after a fatal accident at a geothermal power plant in Indonesia.
Italy’s Eni (BIT:ENI) remains unable to resume upstream exploration activities in the Ambalat Block offshore Indonesia as a maritime territorial dispute between Malaysian and Indonesia has not been resolved.
Inpex, Japan’s largest upstream explorer and producer, is seeking opportunities to acquire more natural gas resources in Vietnam, Malaysia, as well as other countries in Southeast Asia.
Japan’s Inpex (TYO:1605) has confirmed that it will not take a final investment decision (FID) for its proposed Abadi liquefied natural gas (LNG) development in the Masela Block offshore Indonesia until the second half of the 2020s with the aim of starting production in the early 2030s. However, questions remain around the commercial viability of the project and this also marks the latest in a series of delays for Abadi.
Kuwait Foreign Petroleum Exploration Company’s (KUFPEC’s) recent exploration discovery at its Anambas-2X well in the Anambas Block offshore Indonesia has posted even better flow rates than initially announced.
Subsea opportunities will be plentiful in Asia Pacific over the coming years as international oil companies (IOCs) and national oil companies (NOCs) advance a backlog of projects, while offshore wind developers accelerate activity across the region.