Events | Oil & Gas Indonesia 2015
|From||04 Nov, 2015|
|To||07 Nov, 2015|
Indonesia: Pulling out all the stops to boost oil production
The Indonesian government aims to increase oil production to one million bpd in the coming years by offering new exploration rights and encouraging enhanced production from existing wells. It’s fresh incentives to oil and gas investors include favourable tax treatment and improved production splits.
Ground breaking government incentivesfor suppliers to the oil industry
In addition to helping production companies, the Government initiatives saw the elimination of tariffs on importing equipment for offshore platforms and subsea exploration facilities. These policies are seen as key to encouraging suppliers of the advanced technologies that are required for the exploitation of ageing wells and enhancing production from marginal fields.
Market conditions encourage development of deepwater fields
The upturn of the oil price means that development and exploration of Indonesia’s deepwater fields is now economically viable. The Indonesian Government has highlighted several recent discoveries at deepwater sites as fundamental to the continued development of the nation’s petroleum industry.
Huge Opportunities in Natural Gas
Indonesia has 3.18 trillion cubic meters of proven gas reserves, making it the top ranking country in Asia for gas reserves. Indonesia is a key exporter of natural gas to the major demand markets of the world. Locally the demand is also likely to increase from local power plants.
For the Indonesian Petroleum Industry, the right time is now!Oil & Gas Indonesia 2013 creates a timely opportunity for companies offering services and equipment to the Indonesian petroleum industry to meet the buyers and decision makers.