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Jakarta Post

Analysis: Unlocking Indonesia’s $500b oil and gas revenue opportunity

  • Alex Dolya, Eddie Martono and Asheesh Sastry

Jakarta   /   Mon, March 2 2020   /  01:59 am

Indonesia’s oil and gas sector is a vital foundation of the nation’s economy, representing 12 percent of GDP in 2018. While that figure is significant, we must put it in context. In 2010, the sector represented almost a quarter (22 percent) of the economy. This is undoubtedly a time of seismic transitions within the oil and gas industry — rising geopolitical tensions, changing consumer energy demand and a global clean energy transition all pose challenges for the industry. As a regional powerhouse in oil and gas, boasting the largest reserves in Southeast Asia, second only to China in the Asia-Pacific, Indonesia must adapt in order to capture the significant opportunities for growth present in the sector today. ChallengesRealizing opportunity within Indonesia’s upstream oil and gas sector must begin with recognition of seven critical challenges, an issue highlighted in a recent B...