Plenary discussions will include: Indonesia 5 Years Plan - Upstream: New Blocs, PSC issues, Downstream (Latest Regulation, Power (Projects), Supply trends and projection of Crude oil/Gas, Indonesia's Gas policy - Domestic Gas V/s LNG Export, CBM - Resource & Potential in Indonesia, Refining Capacity and Infrastructure, EPC Challenges & Impact in Expansion Plans, Outlook & Development of Indonesia's Retail Market.
Singapore (PRWEB) July 30, 2007 -- In a bid to boost production from its ageing fields, the Indonesian government has been offering new exploration rights and financial incentives for oilfields. They believe that they have 8.6 billion barrels of proven and potential oil reserves and 5 trillion cu.m of natural gas reserves. Most of the country's untapped deposits lie in the eastern part of the country, where a lack of transport and communications facilities has hampered development. Indonesia aims to raise its output by 30% by the end of 2009.
As part of its efforts, Indonesia plans to ease rule for explorers in the eastern part of the country by making it non-compulsory to drill when seismic studies show little prospect of finding reserves. In areas other than eastern Indonesia, companies have six years for exploration, and have to drill at least one well after seismic studies. The government will also ease taxation regulations, this includes waiving of value-added taxes during exploration.
The government put forth 13 blocks through direct offering -- meaning that the areas were proposed by investors -- in early June. Three areas attracted several bids, namely Citarum in West Java, West Kampar in Riau and Bungamas in South Sumatra, said Novian. Aside from the 13 blocks, the government has put on offer 14 other oil and gas blocks through regular tender in the first round of offering. The second round, with another 28 blocks on sale, is expected to take place in October.
Indonesia plans to sign production deals in the next two months with firms, including Royal Dutch Shell, to extract gas from Coal Seams that could double the nation's output, Energy Minister Purnomo Yusigantoro said.
By increasing production of coal bed methane to ease domestic energy demand, they will have more natural gas for export.
In the refining sector, Pertamina has delayed plans to build several new refineries due to rising construction cost. Instead, they have allocated US$11 billion to expand existing capacity by 20 per cent by 2012.
State electricity company PT PLN has issued over twenty tender inviting independent power producers to supply electricity to ensure further power shortages are avoided. The base power purchase agreement price is set a low 4.5 cts/kWh, which only field-mouth gas from easily developed fields can compete at this level. But because such options are limited, coal-fired power will be favourable.
Indonesia OGP conference organized by CMT, to be held on the 3 & 4 September in Jakarta, features high level Panellist from BPMIGAS, PT Energi Mega Persada Tbk, PT Medco Energi, Aabar Petroleum Investments Co., Statoil, Ashurst, HSBC, Ministry of Energy and Mineral Resources, Pertamina, Nexant, Shell Indonesia, Wood Mackenzie, Gaffney Cline & Associates Pte Ltd to examine issues and challenges confronting oil, gas and power sector.
Plenary discussions will include: Indonesia 5 Years Plan - Upstream: New Blocs, PSC issues, Downstream (Latest Regulation, Power (Projects), Supply trends and projection of Crude oil/Gas, Indonesia's Gas policy - Domestic Gas V/s LNG Export, CBM - Resource & Potential in Indonesia, Refining Capacity and Infrastructure, EPC Challenges & Impact in Expansion Plans, Outlook & Development of Indonesia's Retail Market
For more information on the conference, including agenda, please Contact Injleep at 65 63469113 or visit at www.cmtevents.com
About Centre for Management Technology:
Today in its 24 Years of operation, CMT is dedicated to the provision of the latest technology and business information in the refining/petrochemical industry through high profile conferences focusing on renewable energy sources. Organizing of leading conferences in Petroleum, Refining, Liquid Natural Gas, LPG, future fuels like Biodiesel, Biofuels and alternative energy like Coal to Liquids, Gas to Liquids, Bio mass to Liquid Technology has established CMT as the market leaders in promoting this nascent industry as an alternative global powerhouse. For more information, visit www.cmtevents.com
Press Contact:
Injleep Kaur
Tel: 65 63469113
Fax: 65 63455928
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