Ensuring Conducive Environment for Upstream Oil and Gas Investment Amid Political Year

Indeed, it is essential to sustain investment in the upstream oil and gas sector until it progresses to the monetization phase, particularly following the identification of several new resources.

Stepanus I Nyoman A. Wahyudi & Ibeth Nurbaiti*

2 Feb 2024 - 20.43
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Ensuring Conducive Environment for Upstream Oil and Gas Investment Amid Political Year

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Bisnis, JAKARTA — The recent identification of several significant oil and natural gas reservoirs has instilled a sense of assurance among upstream oil and gas industry participants, encouraging them to maintain a proactive approach to investment and operations.

Additionally, the stable trend in global oil prices over the past five years, characterized by minimal fluctuations or relative steadiness, has further fueled enthusiasm for upstream oil and gas investment.

The Indonesian Petroleum Association (IPA) disclosed that significant discoveries of new oil and gas resources, such as those in the South Andaman Working Area, Aceh Province, and the Geng North Working Area, East Kalimantan, have spurred the interest of cooperation contract contractors (KKKS) to pursue further exploration activities in various regions.

Executive Director of IPA Marjolijn Wajong stated that international oil and gas investors perceive the investment climate in Indonesia to remain stable this year, despite the ongoing momentum of the general election.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.