Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.
Spanish oil and gas company Repsol (BME:REP) is waiting for the issuance of an Indonesian presidential regulation and the derivative regulations to progress its proposed carbon capture and storage (CCS) project in Sakakemang block, onshore South Sumatra, in Indonesia.
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
China’s Coast Guard maintained near-daily patrols at key features across the disputed South China Sea last year, ramping up its presence as tensions over the waterway with Southeast Asian neighbours remain high, new tracking data shows.
Japan’s Nippon Steel is considering capturing carbon dioxide (CO2) emissions from its Japanese steel mills for underground storage at facilities linked to ExxonMobil (NYSE:XOM) in countries including Australia, Malaysia and Indonesia, reported Nikkei Asia.
One worker was killed in a work-related accident at the Rokan Block in Indonesia, operated by national oil company Pertamina. A subsidiary of the NOC, Pertamina Hulu Rokan (PHR), is aggressively trying to boost output at Indonesia’s second-largest oil producing block after taking over from previous operator Chevron in August 2021.
Indonesia has approved a revised plan of development for Eni’s (MIL:ENI) Merakes and Merakes East gas fields with a total investment of $3.35 billion.
Indonesia has deployed a warship to its North Natuna Sea to monitor a Chinese coast guard vessel that has been active in the gas-rich maritime area, the country’s naval chief said on Saturday of an area that both countries claim as their own.
Harbour Energy plans to start more frontier oil and gas exploration drilling offshore Indonesia’s Aceh province in September of this year, according to local reports.
Inpex, Japan's biggest oil and natural gas explorer, plans to accelerate its expansion of production and sales of liquefied natural gas (LNG) as it expects the LNG market will remain tight in the mid-term.
Explorers are “taking a measured view and holding budgets and activity steady whilst trying to improve overall exploration efficiency”, Westwood said.
Tesla is close to a preliminary deal to set up a factory in Indonesia, according to people familiar with the matter, as Elon Musk’s electric-vehicle maker looks to capitalize on the Southeast Asian nation’s reserves of key battery metals.
Japan’s Inpex has announced that it has joined the Rajabasa geothermal project in Indonesia’s Lampung province in the southeast area of Sumatra island.
Conrad Asia Energy has signed Production Sharing Contracts (PSCs) for the Offshore North West Aceh (Meulaboh) and Offshore South West Aceh (Singkil) PSCs offshore northwest and southwest of the Aceh Province of Indonesia.
The Indonesian government has approved a plan of development for Harbour Energy’s (LON:HBR) Tuna oil and gas project that includes $3.315 billion worth of cost recovery. Significantly, Indonesia sees the development as a way to assert its sovereign rights in a maritime area also claimed by China.
The government of Indonesia has granted a 20-year extension of the Tangguh production sharing contract (Tangguh PSC) to BP (LON:BP), operator of the PSC, and its Tangguh PSC partners at the LNG export development.
Canada’s Criterium Energy has acquired a 42.5% interest in the Bulu production sharing contract (PSC) holding the Lengo gas field offshore Indonesia for $1.6 million. Significantly, the company is seeking more complimentary assets in Southeast Asia.
UK-based Harbour Energy (LON:HBR) and UAE-based Mubadala Energy are both planning separate exciting deepwater drilling campaigns in frontier waters offshore Indonesia’s Aceh province next year.
Repsol’s (BME:REP) much-anticipated Rencong-1X wildcat exploration well in the frontier deep-waters of Indonesia’s North Sumatra basin has failed to find commercial oil and gas reserves.
Indonesia’s state-backed energy company Pertamina aims to work with Japan’s Mitsui to undertake a joint study for carbon capture utilisation and storage (CCUS) technology at the firm’s upstream assets in central Sumatra.
Eni (MIL:ENI) has denied reports in Indonesia last week, citing a senior government official, suggesting that the Italian company had become the new operator of the Indonesia Deepwater Development (IDD) project, replacing Chevron.
Indonesia, home to the world’s largest geothermal energy potential, is opening tenders seeking investors to develop this giant resource, as it aims to expand the use of renewable energy to meet its net zero goals.
Kuwait Foreign Petroleum Exploration Company (KUFPEC) has recently issued a pre-qualification tender announcement for the provision of conceptual and pre-FEED engineering studies for the development of its Anambas offshore block in Indonesia.
Indonesia plans to launch initial public offerings (IPOs) for the upstream and geothermal units of state-backed energy company Pertamina next year to fund expansion, a senior government official told parliament on Wednesday.
Russia’s Zarubezhneft is interested to bid for the giant East Natuna gas Block offshore Indonesia, according to upstream regulator SKK Migas, when the area is auctioned next year.