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More than 100 companies to join IPA convention and expo
As many as 103 foreign and domestic companies have confirmed they will take part in the Indonesian Petroleum Association’s 34th Convention and Exhibition, which will be held at the Jakarta Convention Center from May 18-20
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s many as 103 foreign and domestic companies have confirmed they will take part in the Indonesian Petroleum Association’s 34th Convention and Exhibition, which will be held at the Jakarta Convention Center from May 18-20.
Chairman of the convention and exhibition committee Ngurah Kresnawan said Monday that the companies would display their latest advanced technologies and technical publications in the oil and gas sector.
The association, with 52 petroleum companies as members, estimates that about 3,000 visitors will attend the exhibition. Ngurah claimed 1,000 visitors had already confirmed their attendance.
During the exhibition, the convention will discuss regulations and financial affairs to boost investment in the oil and gas sector in the country.
“The association will organize two dialogues and two special dialogues to formulate strategies to invite investors to put money into the sector,” Ngurah said.
The dialogues will be attended by foreign and domestic company executives, ministers, legislators, scholars and Indonesian Chamber of Commerce and Industry (Kadin) representatives.
Before the convention and exhibition begins, five short courses will discuss coal bed methane (CBM), petroleum generation, petroleum geology, Cenozoic tectonics and the upstream oil and gas industry for two days.
President of the association Ron Aston said Indonesia needed to look for more investment in the oil and gas sector to ensure this year’s growth target could be reached.
According to the government’s estimation, Indonesia has proven oil reserves of 4,303.15 million stock tank barrels (MMSTB) and potential oil reserves of 3,695.38 MMSTB, while its proven gas reserves are estimated at 107.35 trillion standard cubic feet (TSCF) and potential gas reserves at 52.29 TSCF.
This year, the government is targeting a total income of US$19.98 billion from the upstream oil and gas sector. Last year, the sector contributed Rp 182.63 trillion ($20.27 billion) to the state income. (rch)
