Cultivating Hope in Upstream Oil and Gas Amid Anxiety over Oil Lifting

Fundamental challenges persist in the upstream oil and gas sector, encompassing various issues from natural decline in production due to aging fields to economic and monetization challenges.

Ibeth Nurbaiti

5 Feb 2024 - 16.00
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Cultivating Hope in Upstream Oil and Gas Amid Anxiety over Oil Lifting

Drilling activities in one of the offshore work areas managed by PT Pertamina Hulu Energi./-Pertamina's Doc.

Bisnis, JAKARTA — The recent discovery of two giant exploration wells in the South Andaman Working Area, Aceh, and the Geng North Working Area, East Kalimantan, has ignited hope for a resurgence in Indonesia's upstream oil and gas sector.

Amidst concerns regarding the ongoing challenge of resolving issues related to oil and gas lifting, the discovery of Layaran-1 in the South Andaman Block and Geng North-1 in the North Ganal Block has once again placed Indonesia on the global map of the upstream oil and gas industry.

Nevertheless, numerous fundamental challenges persist in the upstream oil and gas sector, spanning from natural decline stemming from aging fields to economic and monetization hurdles.

Indonesia's resurgence in the global upstream oil and gas industry undoubtedly sparks optimism among oil and gas business stakeholders regarding future investment opportunities. Furthermore, the discoveries, predominantly consisting of natural gas, offer substantial leverage for advancing low-emission energy development towards new renewable energy (NRE).

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.