Repsol SA is considering selling its stake in Tangguh LNG, one of Indonesia’s largest liquefied natural gas projects, as Spain’s biggest oil company seeks to reduce debt, according to people familiar with the matter. Repsol’s 3.1 percent stake in the gas fields, operated by BP Plc, may fetch as much as $300 million in a sale, the people said, asking not to be identified as the deliberations are private.
KrisEnergy said it has commenced drilling of the Mustika-1 exploration well in the Sakti production sharing contract in the East Java Sea. The company said drilling is expected to take around 20 days to complete. The Mustika-1 well is targeting the Kujung I formation and is planned to reach a total measures depth of 3,100feet.
For the first time in seven years, OPEC’s newest member will increase crude production. It will likely be just a blip.
Cue Energy Resources (CUE) has confirmed a rig deal for its onshore Indonesian exploration push.
Indonesia has been told by OPEC that it plans to accept the country's request to reactivate its membership at its next meeting in December.
Lundin Petroleum has sold its assets in Indonesia in an agreement with Medco Energi International in a $22million deal. The assets include the non-operate interest in the producing Singa gas field and the operated interest in the South Sokang and Cendrawasih VII Blocks, as well as the joint study agreement in respect of the Cendrawasih VIII Block.
Lion Energy said it has made a gas discovery in the Seram Non-Bula block in Indonesia. The company said the estimates are based on analysis of available data including 2D seismic coverage and data acquired from the Lofin-1 and Lofin-2 wells.
Indonesia is set to reactivate its membership of the Organisation of the Petroleum Exporting Countries (OPEC) in December. The move would add almost 3% to the group’s oil output, which is already close to a record high.
CEB Resources has agreed with PT Akar Golindo (PTAG) to assess the technical and commercial prospects for gas production in Indonesia creating a beach head into the the country's gas and power markets
U.S. oil and gas company ConocoPhillips is reviewing its portfolio in Indonesia and may soon seek buyers for a stake in a production sharing block it operates in the Natuna Sea, company and government sources said. The company has proposed to upstream oil and gas regulator SKKMigas to open its data room for the South Natuna Sea Block B, the agency's spokesman Elan Biantoro told Reuters, noting that such requests were usually made by companies "that want to farm out their participating interests." ConocoPhillips was opening the data room to offer its share to other investors, spokesman Joang Laksanto said.
Indonesia's state energy company Pertamina is losing 80 billion rupiah ($6 million) a day from the sale of fuels at prices set by the government below market rates, it said on Wednesday.
A $400 million floating plant for changing LNG back to gas has sat idle off Indonesia's coast for around six months despite only being commissioned last summer, hit by faltering demand for the cleaner fuel as oil prices drop and the economy slows. The stoppage could stoke government worries over the strength of appetite for gas in Southeast Asia's largest economy, another blow to the administration of President Joko Widodo which has been pushing for greater consumption of the fuel to curb pollution and diversify energy sources. Tepid Indonesian demand also means more liquefied natural gas is likely to spill into regional markets, already struggling near their lowest since before the Fukushima crisis in 2011 boosted usage as Japan shut all its nuclear reactors.
Oil giant BP has awarded engineering contracts for its $12billion expansion of its Tangguh Liquefied Natural Gas (LNG) development in Indonesia. The contracts are for the onshore Front End Engineering and Design (FEED) to a number of partners including PT Tripatra Engineers and Contractors.