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The energy industry in Indonesia is up for some big changes, as the country has signed 11 business deals worth 314.9 trillion rupiahs ($23 billion) with the United Arab Emirates. These deals involve multiple investments in energy and other sectors.  The two countries signed multiple memorandums in the presence of Mohamed bin Zayed al Nahyan, crown prince of Abu Dhabi and Joko Widodo, Indonesia’s President. They were also announced by...
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Japanese petroleum giant JX Nippon has commenced oil production from a newly installed floating production, storage and offloading vessel at the Layang field off Malaysia. The partnership between the giant’s subsidiary in Malaysia and Petronas Carigali, which started from 3rd December 2019, is being handled by Helang FPSO, a company owned by Yinson Holdings. The estimated output from this field is about 3000 barrels per day and about 10,000 barrels...
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An offshore exploration well has been spudded by Indonesia’s Medco Energi at its multi-field oil and gas complex in Block B in the Natuna Sea. In 1986, the Natuna Sea was recognised officially as its’ own entity by the International Hydrographic Organisation as it was previously acknowledged as part of the South China Sea. The initial process has been done through semi-submersible Hakuryu-5, the first semi-submersible spudding in Indonesia. The...
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There’s good news for Pertamina of Indonesia which has started making concrete progress on its Jambaran Tiung Biru (JTB) onshore giant gas development project in Java. This already delayed $1.5 billion project is targeted to be completed in 2021. Launched in 2012, the construction of the project began in 2016. However, until today, only 36% is complete. JTB will have a capacity of producing around 315 million cubic feet per...
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International Petroleum Corporation (IPC), a Toronto-listed petroleum company based in Canada was carrying out exploration on the Keruing prospect on Block PM307 off Malaysia. However, the exploration resulted in no luck when they found that the well turned out to be dry. They also found out that the well was plugged and abandoned.  In its third-quarter report, IPC reported that although the exploration encountered a good quality reservoir, the well...
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