Indonesia targets increased liquefied gas production, regulator says
Indonesia wants to increase its liquefied gas production by 1 million tons per year in order to reduce the amount of cooking fuel imported, said the head of Indonesia's upstream oil regulator on Tuesday. The new president Prabowo Subianto has pledged that he will achieve energy independence through biofuels and oil and gas production. He cited the rising geopolitical uncertainty which could affect supply.
Indonesia approves Eni's Geng Nord gas project development plan
SKK Migas, Indonesia's upstream oil-and-gas regulator, said Friday that Indonesia had approved the plan of developments (POD) of the first phase for Geng North, an Italian Eni gas field in the Makassar Strait. SKK Migas confirmed that the POD approval included development of Gehem. Gehem, located near the Geng North gas field, is part of Indonesia Deepwater Development project that Eni acquired last year from Chevron.
Indonesia Produced 104.8 LNG Cargoes in Jan-June Period
Indonesia produced 104.8 standard cargoes of liquefied natural gas (LNG) from its Bontang and Tangguh LNG plants in between January to June. Susana Kurniasih, upstream oil and gas regulator SKK Migas' spokeswoman told Reuters.79 cargoes of LNG were exported and 25.8 cargoes were sold domestically in first half of 2020. 20.5 cargoes of domestic sales were sold for electricity. (Reporting by Wilda Asmarini; Writing by Fathin Ungku; Editing by Louise Heavens)
Indonesia Inks 20-year PSC for Corridor Block
Indonesia's government signed on Monday a production sharing contract with units of ConocoPhillips, PT Pertamina and Repsol SA for the Corridor natural gas blocks, Energy and Mineral Resources Minister Arifin Tasrif told reporters.The contract will extend by 20 years the current contract with the same companies that will expire in late 2023.Under the new contract, the companies will have 53.5% of the gas produced from the block and 48.5% of the oil."The go
Exxon's Cepu Production May Exceed Capacity
Crude output from Exxon Mobil Corp's Cepu block may exceed its capacity of 220,000 barrels per day (bpd) this year, to reach 235,000 bpd, upstream oil and gas regulator SKK Migas told reporters on Thursday.Potential reserves at the block are bigger than initially estimated after a reevaluation and Exxon is currently conducting a test until November, said Fatar Yani Abdurrahman, deputy of operations at SKK Migas."As requested by SKK Migas, we are conducting
Indonesia Extends Corridor Block Contract
Indonesia has agreed to extend the production sharing contract for the Corridor natural gas block with ConocoPhillips, Spain's Repsol SA and Pertamina, Deputy Energy Minister Arcandra Tahar said on Monday.The existing contract will expire in December 2023 and the ministry has agreed to extend the contract by 20 years to 2043.ConocoPhillips will operate the block until 2026 before starting to transfer operatorship to state-owned Pertamina…
Masela Development Approval Nears
The Indonesian government is set to approve Japanese Inpex Corp's revised plan of development for the Masela natural gas block next week, the chairman of the country's upstream oil and gas regulator SKK Migas said on Wednesday.The government is expecting Inpex to submit the plan for the $20 billion gas project this week, Dwi Soetjipto, the SKK Migas chairman told reporters in Jakarta.Approval of the development plan would let Inpex, which controls 65% of t
Exxon to Be Indonesia's Top Oil Producer
Exxon Mobil Corp unit Exxon Mobil Cepu Limited is expected to produce 216,000 barrels per day of crude oil in 2019, making it Indonesia's biggest oil producer, the country's upstream oil and gas regulator (SKKMigas) said.In second place Chevron Corp unit Chevron Pacific Indonesia is expected to produce 190,000 bpd of crude oil in 2019, SKKMigas chief Dwi Soetjipto told reporters on Wednesday.State-owned Pertamina unit Pertamina EP is expected to produce 85
Indonesia's Oil Output Rises
The Indonesian unit of Chevron Corp produced 209,400 barrels of oil per day (bpd) from the Rokan block in 2018, down from 223,000 bpd a year earlier, Dwi Soetjipto, chairman of upstream oil and gas regulator SKK Migas said.Exxon Mobil produced 209,300 bpd of crude oil from the Cepu block in 2018, compared to 203,000 bpd in 2017, Soetjipto said.BP Berau, a unit of BP Plc, which operates the Tanggu LNG plant produced 1,076 million standard cubic feet per day
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture, Indonesian officials said on Wednesday.Indonesia's energy minister had issued a decree terminating Chevron's Makassar Strait production sharing contract (PSC) after it decided not to extend its operation of the block beyond 2020…
Honda says Fuel From Shell, Total, PSO Harms Engines in Pakistan
Pakistan's state oil and gas regulator said on Thursday it would investigate a complaint that fuel suppliers including local units of Shell and Total as well as Pakistan State Oil (PSO) had added manganese to their gasoline. Honda Motor Co's Pakistan subsidiary, Honda Atlas Cars (Pakistan) Ltd., filed the complaint, saying the additive appeared to be damaging engines in its vehicles.
Brazil: 17 Firms Registered to Bid for Pre-salt Oil Exploration
A total of 17 companies have registered to take part in two rounds of bidding for licenses to explore pre-salt oil areas in Brazil, Oil and Gas Secretary Marcio Felix said on Thursday. The auctions next month include some of the most promising oil blocks in the world. Pre-salt oil, referring to reserves found beneath a deep layer of undersea salt, has been said to be of high quality and commercial value.
Pakistan orders Shell Subsidiary to Pay for Tanker Blast
Pakistan's oil and gas regulator on Friday ordered a subsidiary of Royal Dutch Shell to pay about 257 million rupees ($2.4 million) in damages and compensation for a tanker explosion that killed more than 200 people. The Oil and Gas Regulatory Authority (OGRA) has held Shell Pakistan Ltd (SPL) responsible for the blast in Punjab province on June 25 after the tanker carrying gasoline for the company rolled over, and villagers rushed to collect leaking fuel.
Oklahoma regulator issues new directive to curb quakes
Oklahoma's oil and gas regulator on Friday issued a wider directive limiting future increases in wastewater disposal underground in another effort to address a rash of temblors that have occurred amid the shale boom. The guidelines include wells in Oklahoma's Arbuckle formation that previously were required to restrict disposal volumes and some potentially high-volume wells not previously covered.
Petrobras Likely to Get Credit for Oil-for-shares Transfer
The revision of a massive exploration contract between Brazil's government and Petrobras will be based on the price of oil at the end of 2014, likely leaving the state-run oil company with a credit, the oil and gas regulator ANP said on Tuesday. The agreement giving Petroleo Brasileiro SA, as the company is officially known, the rights to produce 5 billion barrels of…
Indonesian Approved $1.5 bln of O&G Projects from Jan-Apr
Indonesia's upstream oil and gas regulator, SKK Migas, approved development plans for 18 oil and gas projects from January to April, with a total investment of $1.496 billion, it said in a statement on Sunday. SKK Migas estimated the cumulative oil and condensate production from the 18 projects to be 45 million barrels, while the natural gas production is estimated at 271 billion cubic feet.
Canada's Liard Basin Among World's Biggest Shale Gas Plays
Northwest Canada's remote Liard Basin is the world's ninth largest shale gas resource, according to a new assessment released by Canadian regulators on Wednesday, although it may take years to develop given depressed global energy prices. The basin, mostly situated in British Columbia but also straddling the Yukon and Northwest Territories borders, is estimated to contain 219 trillion cubic feet of marketable, unconventional natural gas.
15 Oil & Gas Blocks Returned to Indonesia
Investors returned eight blocks in 2014, five in 2013; companies lost $820 mln in costs on blocks returned in 2015. Oil and gas investors relinquished 15 exploration blocks to the Indonesian government in 2015, nearly double those they returned the previous year, according to the country's energy regulator, amid low oil prices and slowing global demand growth. Indonesia's energy sector has seen a string of production curbs and asset cuts in recent months…
Chevron Wants VAT Cut on Indonesian Crude Sales
Chevron has offered to sell 125,000 barrels per day of crude oil to Indonesia from two of its domestic oilfields on condition of an exemption from a 3 percent value added tax, the country's oil and gas regulator (SKKMigas) said on Tuesday. The regulator will propose the tax break to the tax directorate at the finance ministry, SKKMigas chairman Amien Sunaryadi told reporters on Tuesday…
Oil Services Firms 'Trim Fat'
A slump in oil prices is forcing the oil and gas services industry for the first time in 15 years to trim costs in a way that executives say will create a lasting change away from their usual lavish way of doing business. Navigating a new environment in which oil prices have halved in a year and their customers are slashing investments, oil service firms face a rough ride.
