Insight

Indonesia Energy Forum 2017: the audience's view on oil price, deepwater and LNG demand

05 April 2017

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05 April 2017

Indonesia Energy Forum 2017: the audience's view on oil price, deepwater and LNG demand

Report summary

Wood Mackenzie held its 11th annual Indonesia Energy Forum in Jakarta on 22 March 2017. Over 100 clients and guests from a range of companies and backgrounds covering upstream, midstream and downstream attended. The theme of the event was 'Capturing investment opportunities in an uncertain market'. During the forum, we asked the audience to complete a questionnaire to gauge their mood on key issues concerning the global and Indonesian markets. Questions included the future direction of global oil prices, LNG prices and OPEC's behaviour. We also asked their opinions about the prospects of domestic deepwater drilling and power projects. This Insight summarises the poll results, and the full presentation slide deck is also available to download.

Poll results
- Oil price to stay within the US$50-60/bbl range at year-end
  - Question 1: What will the oil price be on 31 December 2017?
- OPEC may extend production cut for another six months
- A gloomy outlook on deepwater exploration
- Indonesia's LNG demand will grow triple by 2020
- Asian spot LNG prices will remain under pressure
- The 35 GW programme's completion target is somewhat unrealistic

Tables and charts

This report includes 6 images and tables including:

Question 2: How likely is OPEC to roll over production cuts for another six months in May 2017?
Question 3: How many Indonesian deepwater exploration wells will be drilled in 2017/2018?
Question 4: How much LNG will Indonesia consume by 2020?

Question 5: How low will LNG spot prices get in Asia during 2017-2020?
Question 6: How much power capacity will be completed by 2019 as part of the 35 GW programme?
Indonesia Energy Forum 2017: the audience's view on oil price, deepwater and LNG demand: Image 1