Pertamina’s Manapatu 1x exploration well in the Mahakam Block offshore East Kalimantan has hit gas. It marks the first discovery for Indonesia in early 2022.
By Fitch Solutions Country Risk & Industry Research
Indonesia's crude oil and natural gas production growth outlook continues to be downbeat. Total oil and gas output have seen broad declines since 2010 and the long-observed trend is not expected to be reversed any time soon, reports Fitch Solutions.
Indonesian national oil company (NOC) Pertamina has so far failed to agree a commercial deal with Chevron for a key chemical formula that is critical for enhanced oil recovery (EOR) efforts at the legacy Rokan Block.
Indonesia is taking proactive steps in a bid to avoid a sharp drop in upstream production as state-backed Pertamina takes over more legacy assets from international oil companies (IOCs).
