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Jakarta Post

Recent energy deals signal postelection 'pragmatism play’

  • Stefanno Reinard Sulaiman
    Stefanno Reinard Sulaiman

    The Jakarta Post

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Jakarta   /   Wed, July 24, 2019   /  08:46 pm
The Jakarta Post Image
Workers tighten the drilling machine at one of the oil and gas blocks in Maluku in this file photo.(kompas.com/-)

Recent major oil and gas deals signify the government’s shift to pragmatism following a string of decisions based on strong resource nationalism made to woo voters, a global think tank has concluded. The government awarded a contract extension on Monday for United States firm ConocoPhilips in the second largest gas-producing Corridor Block onshore South Sumatra. Last week, it also gave the green light for the US$20 billion Abadi LNG project at the Masela Block onshore South Maluku by approving Japan’s Inpex Corp's revised plan of development (PoD). The Corridor Block is the last of the “big three”, the licenses of which were to expire, to be decided. The big difference was that the incumbent operators of the other two production sharing contracts (PSCs) – the offshore Mahakam (Total) and Rokan (Chevron) – both lost out to state-owned oil and ...