Indonesia Key Projects and Business highlights
Within the Asia-Pacific region, Indonesia popped up on the first half 2013 as one of the most dynamic country with the major international oil companies (IOCs) BP, Chevron, Eni, GDF-Suez, Inpex, PTTEP, Shell and Total competing to speed up their projects in exploration and production.
Concentrated on the upstream sector, the projects in Indonesia are most related to additional offshore platforms, floating, production, storage and offloading (FPSO) and floating liquefied natural gas (FLNG) vessels, and liquefied natural gas (LNG) plants expansion.
With offshore basins rich in natural gas, Indonesia intends to take advantage of the costs challenges in Australia to attract foreign investors.
The projects may be related to new discoveries as well as the expansion and revival of existing maturing oil and gas fields in drilling new wells and in deploying all the technics of the enhanced oil recovery (EOR).
In the light of the experiences made by some companies such as Chevron on the first half of 2013, the success of the development of the oil and gas sector in Indonesia on the coming years will mostly depend on the stability of the local regulation, especially regarding the protection of the environment.
BP selects bidders for Tangghu LNG FEED competition
The International Oil Company (IOC) BP and its partners in the Tangguh Expansion Project are currently qualifying the engineering companies to be invited to bid (ITB)on the onshore Tangguh third LNG Train and the production platforms to be installed offshore the Irian Jaya District of the West Papua Province of Indonesia.
Inpex and Shell to speed up Abadi FLNG project
Inpex Corporation (Inpex) from Japan and the international oil company Shell signed two contracts in parallel for the front end engineering and design (FEED) of the Abadi floating liquefied natural gas (Abadi FLNG) project in the Masela Block, offshore Indonesia.
PTTEP to replace Petronas in East Natuna Project
On October 20th, 2012, the Director of the Oil and Gas at the Indonesian Ministry of Energy and Mineral resources confirmed that the Thai national oil company, PTTEP, has been selected to replace the leaving Malaysian Petronas from the partnership.
In the competition, to take the seat left by Petronas, PTTEP passed the Kuwait Foreign Petroleum Exploration Company (KUFPEC) that had shown interest for this opportunity.
Chevron qualified contractors to bid on Gendalo-Gehem
– Worley Parsons Indonesia for the Subsea and Flowline system package.