Indonesia has inaugurated the upgraded Balikpapan refinery, expanding capacity from 260,000 bpd to 360,000 bpd and marking the country’s largest refining facility, international media reported on Monday.
Malaysia’s Petroliam Nasional Bhd (Petronas) and Italy’s Eni SpA on Monday announced a binding agreement to combine their assets in Indonesia and Malaysia into a company equally owned by the state-controlled oil and gas producers.
Indonesia looks to unlock its upstream potential by offering more than 100 previously untapped oil and gas basins to global investors for exploration.
Indonesian state-owned oil and gas company PT Pertamina has signed a deal to acquire a 24.5 percent stake in the Bobara production sharing contract (PSC) off West Papua Province from Malaysian counterpart Petroliam Nasional Bhd (Petronas).
“The Indonesian government requests an acceleration of the project, which I understand, because Indonesia needs a lot of energy to feed its economic growth,” Takayuki Ueda, Chief Executive Officer of the Japanese oil and gas producer, said in an interview on the sidelines of the Energy Intelligence Forum in London. “We try our best, but it’s very challenging.”
The EPCI scope includes construction of the Anambas wellhead platform, subsea pipeline installation and brownfield modifications to existing infrastructure, with a 36-month contract duration.
The three brands of gasoline sold by Shell in the country are unavailable at some locations until further notice, according to a statement on its website. The company – which accounts for a small part of Indonesia’s market – is coordinating with the country’s Energy Ministry to ensure fuel availability, it said.
EnQuest along with its joint venture partners and the Government of Indonesia have signed Production Sharing Contracts (PSCs) for the Gaea and Gaea II exploration blocks, located in Papua Barat, Indonesia.
“This collaboration marks an exciting first step by IEC to evaluate world-class opportunities beyond Indonesia in Brazil, a market that has become one of the most attractive for upstream investment,” said Frank Ingriselli, IEC’s President. “Working with Blener Mayhew and his team will give us immediate local insight and access. In addition to opportunities in Brazil, AEP may also assist us in further commercializing our Indonesian assets and identifying new Indonesian domestic growth projects. Together with our planned drilling program at our Kruh Block, this initiative advances our growth strategy to scale production and diversify our portfolio in the final months of 2025 and beyond.”
“There’s a territorial border between Germany and the Dutch that hasn’t been settled in 300 years. If the Dutch and the Germans couldn’t finish in 300 years, why should we finish in 10?,” Indonesia Deputy Foreign Minister Arif Havas Oegroseno said in an interview on Friday. If the talks between the Southeast Asian nations “take a long time, so be it.”