Indonesia’s revisions to new oil and gas production-sharing contracts are positive for investors, the leading energy industry association said, amid waning interest in energy exploration and declining oil output from the former OPEC member. The archipelago overhauled its oil and … Continue reading →
United States oil producer ExxonMobil has set a price of US$121 million for state-owned energy giant Pertamina to acquire its 45 percent participating interest in the Jambaran-Tiung Biru (JTB) field in Central Java. At present, the JTB field is jointly … Continue reading →
The Energy and Mineral Resources Ministry has issued Ministerial Decree No. 47/2017 on the mechanisms of investment return in upstream oil and gas business to amend the previous Decree No. 26/2017 on the same matter. The decree, signed by Energy … Continue reading →
The government will auction off six geothermal projects worth $1.02 billion in September to expand Indonesia’s renewable energy capacity as part of its plan to become the world’s largest geothermal producer. Local companies and foreign investors from the United States, … Continue reading →
The government will pitch East Natuna block to investors following the withdrawal of contractor Exxon from a consortium comprising state-owned Pertamina and Thailand-based PTT EP. “We will offer it to anyone interested. Whoever shows interest in East Natuna [will be] more than … Continue reading →