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Today's Headlines SKK Migas

  • What Are the Biggest Oil & Gas Companies in Indonesia?

    What Are the Biggest Oil & Gas Companies in Indonesia?

    Indonesia's national crude oil output remains dominated by a select group of companies. The five biggest oil producers in Indonesia - who together account for 73.34 percent of the nation's total oil production - are Chevron Pacific Indonesia, ExxonMobil, Pertamina EP, Pertamina Hulu Mahakam, and the China National Offshore Oil Corporation (CNOOC).

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  • Oil & Gas Industry Indonesia: Investment in Exploration Needed

    Oil & Gas Industry Indonesia: Investment in Exploration Needed

    SKK Migas, the government's special taskforce for upstream oil and gas business activities in Indonesia, said direct investment in the country's upstream oil and gas sector reached USD $1.8 billion by the end of February 2018 (equivalent to around 13.84 percent of SKK Migas' full-year 2018 investment target in the country's oil and gas sector).

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  • Oil & Gas Sector Indonesia: What Explains Weak Oil & Gas Exploration?

    Oil & Gas Sector Indonesia: What Explains Weak Oil & Gas Exploration?

    The upstream oil and gas industry of Indonesia is plagued by companies' lack of interest in exploration amid low crude oil prices, their eagerness to focus on efficiency strategies, and Indonesia's difficult investment climate. At the 41st Indonesian Petroleum Association Convention and Exhibition in the Jakarta Convention Center on Wednesday (17/05) Christina Verchere, President Director of the Indonesia Petroleum Association (IPA), said low oil prices have been the main reason for reduced investment in oil and gas exploration since 2014.

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  • Investment in Indonesia's Oil & Gas Sector Fell in Q1-2017

    Investment in Indonesia's Oil & Gas Sector Fell in Q1-2017

    Investment in Indonesia's oil and gas sector remained bleak in the first quarter of 2017. The key reason why oil and gas companies are still reluctant to invest in any exploration and expansion projects is the low crude oil price that remains below the USD $50 per barrel level. In Q1-2017 investment in Indonesia's oil and gas sector fell 4.1 percent year-on-year (y/y) to USD $2.57 billion. Indonesia's upstream oil and gas regulator SKK Migas targets to attract a total of USD $12.87 billion worth of investment in the oil and gas sector in 2017.

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  • Oil & Gas Sector Indonesia: Permitting Process Too Difficult

    Oil & Gas Sector Indonesia: Permitting Process Too Difficult

    For a company it is very difficult to start activities in Indonesia's upstream oil and gas sector. As a result, not unoften, activities related to exploration and production are delayed. This is the major reason why Indonesia's oil production has been declining for the past two decades, while Indonesia's gas production today does not differ much from production one decade ago. Why is it difficult for an oil and gas company to get started in Indonesia?

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  • Crude Oil Production & Exploration 2016 Update Indonesia

    Crude Oil Production & Exploration 2016 Update Indonesia

    Indonesia's crude oil production (oil lifting) in full-year 2016 is expected to reach 819,000 barrels of oil per day (bpd), slightly below the target that is set in the Revised 2016 State Budget (820,000 bpd). Amien Sunaryadi, Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKKMigas), said oil production realization in Indonesia so far this year stands at 834,000 bpd. However, due to seasonal factors output is set to fall in September. Moreover, amid low oil prices Indonesia somewhat discourages oil exploration and production.

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  • Oil & Gas Sector Indonesia: Oil Lifting Target Q1-2016 Achieved

    Oil & Gas Sector Indonesia: Oil Lifting Target Q1-2016 Achieved

    Indonesia's upstream oil & gas regulator SKK Migas said the nation's crude oil production in the first quarter of 2016 reached the average of 835,234 barrels per day (bpd), slightly above the target of 830,000 bpd that was set in the 2016 State Budget. This is positive news as it is rare for Indonesia to achieve its crude oil output target. In Q1-2016 the target was met due to the combination of a realistic oil production target and long-awaited crude production growth at Exxon Mobil Corp's Banyu Urip field (part of the Cepu Block in East Java).

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  • Oil Production Indonesia Exceeds Target in First Quarter 2016

    Oil Production Indonesia Exceeds Target in First Quarter 2016

    Indonesia's crude oil output was strong in the first quarter of 2016 on the back of higher-than-expected oil production of several oil companies in Indonesia. According to Indonesia's oil & gas regulator SKK Migas the nation's oil production totaled 833,000 barrels per day (bpd) in the January-March 2016 period, exceeding the oil lifting target that was set in the 2016 State Budget (830,000 bpd). It also means that the globe's low oil prices at the year-start, touching 12-year lows at around USD $27 per barrel, did not make local oil companies cut back on production rates.

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  • Oil Production at Indonesia's Banyu Urip Field Has Risen

    Oil Production at Indonesia's Banyu Urip Field Has Risen

    Oil production at the Banyu Urip field, part of the Cepu Block in East Java, has finally reached the level of 150,000 barrels per day (bpd) in February 2016 after a long delay. According to Indonesia's oil & gas regulator SKK Migas, production at the field stood at an average of 130,000 bpd in the first month of 2016. The Banyu Urip field, operated by ExxonMobil Cepu Ltd, is expected to reach its top production rate - around 165,000 bpd - in March or April. This would mean that the Banyu Urip field accounts for nearly 20 percent of Indonesia's total oil production.

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  • Low Oil Prices Can Cause Lower Oil Production in Indonesia

    Low Oil Prices Can Cause Lower Oil Production in Indonesia

    Although oil prices somewhat recovered from 12-year lows on Friday (08/01) on China's rebounding stock market there is concern that Indonesia will not achieve its 2016 oil lifting target as the country's oil producers become less eager to boost production rates amid unattractive oil prices. Yesterday, Brent oil fell to USD $32.16 per barrel - the lowest level since 2004 - after China devalued its yuan and Chinese stocks plunged over 7 percent causing the circuit-breaking mechanism to kick in and even causing a global stock selloff.

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Latest Columns SKK Migas

  • Oil & Gas News Indonesia: Banyu Urip Field Hit New Peak

    Oil & Gas News Indonesia: Banyu Urip Field Hit New Peak

    Crude oil production at the Banyu Urip field (part of the Cepu Block) in East Java has reached 201,000 barrels of oil per day (bpd). This peak is reached about three years after operations started at the Banyu Urip field. Considering Indonesia set a 825,000 (bpd) oil production target in the state budget, it implies the Banyu Urip field now accounts for almost a quarter of total (targeted) crude oil production across Indonesia.

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  • Oil & Gas Mining Indonesia: Why Chevron Exits the East Kalimantan Block?

    Oil & Gas Mining Indonesia: Why Chevron Exits the East Kalimantan Block?

    Chevron Indonesia Company (CICO) announced on Tuesday (19/01) that it will return all its oil and gas assets in the East Kalimantan block back to the Indonesian government on 24 October 2018. Without elaborating on why the company exits the East Kalimantan oil & gas block after having exploited this block for about 50 years, Chuck Taylor, Managing Director Chevron IndoAsia Business Unit, confirmed CICO will not seek extension of its production sharing contract after 2018.

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  • Update Oil & Gas Sector Indonesia: Crude Oil Output to Rise in 2015?

    Update Oil & Gas Sector Indonesia: Crude Oil Output to Rise in 2015?

    Indonesia’s crude oil production is expected to increase starting from mid-March 2015 as new oil fields will start to come online this month, including the Bukit Tua oil field (part of the Ketapang block in East Java and which is operated by Petronas Carigali). Over the past two decades Indonesia oil output has declined drastically amid maturing oil fields and the lack of exploration as well as other investments in Indonesia’s oil & gas sector. In 2014, Indonesia produced an average of 794,000 barrels of oil per day (bpd).

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  • Indonesian Government Seeks Private Investments in Oil Refineries

    Indonesian Government Seeks Private Investments in Oil Refineries

    The government of Indonesia plans to add new fuel refineries soon after such development has been postponed for many years. Today, Indonesia's total of oil refineries have roughly the same combined production capacity as a decade ago, indicating that limited progress has been made. In fact, domestic oil output has experienced a steady downward trend for almost two decades due to a lack of exploration and investments amid weak government management, bureaucracy, an unclear regulatory framework and legal uncertainty.

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  • Corruption in Indonesia: Rudi Rubiandini Guilty of Receiving Bribes

    Corruption in Indonesia: Rudi Rubiandini Found Guilty of Receiving Bribes

    On Tuesday (29/04), Jakarta's Anti-Corruption Court sentenced Rudi Rubiandini, former Head of Indonesia's oil & gas regulator SKK Migas, to seven years in prison for money laundering and accepting bribes from Singapore-based Kernel Oil Pte Ltd and Indonesia-based Kaltim Parna Industri. These bribes were given in exchange for securing a win in an oil tender. In addition, Rubiandini was imposed a fine of IDR 200 million (or another three months in prison). Rubiandini was reported to not file an appeal to the court's verdict.

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  • Coalbed Methane Production in Indonesia Far from Successful

    Production of coalbed methane (CBM) in Indonesia will most likely not meet the government's target of 500 million standard cubic feet per day (mmscfd) in 2015. Coalbed methane, an environmental friendly fuel, is a form of natural gas that occurs in coal beds. Although the production of CBM is a complementary aspect of coal mining, it has only started to gain attention in recent years. CBM reserves in Indonesia, estimated at 453 trillion cubic feet (tcf), are among the world's largest CBM reserves (6 percent of total global CBM reserves).

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  • Corruption Scandal: Head of SKK Migas Arrested on Alleged Bribery Charges

    Corruption Scandal: Head of SKK Migas Arrested on Alleged Bribery Charges

    Late on Tuesday evening (13/08), the Corruption Eradication Commission (KPK) arrested Rudi Rubiandini, head of the Upstream Oil and Gas regulatory special task force (SKK Migas) for allegedly accepting bribes amounting to USD $400,000 from Kernel Oil Pte Ltd, which is headquartered in Singapore. Four other people were also arrested in connection with this case. Rubiandini is currently being questioned by the KPK. The institution has one day to determine Rubiandini's legal status.

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  • No Pain, No Gain; Will Indonesia's Oil Production Be Back on Track?

    Oil and Gas Production in Indonesia - Indonesia Investments

    This year, Indonesia will have to face declining production numbers in its oil and gas sector. Gas output is assumed to decline by 14.77 percent compared to last year, while oil output will reach similar levels as in 2012, provided that there are no disruptions due to bad weather and leakages (a prerequisite that will be hard to meet).

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