Country Report
Indonesia upstream summary
Report summary
Indonesia remains Southeast Asia's largest oil and gas producer, as steady gas output of over 6 bcf/d for the last two decades has offset falling oil output. Indonesia's production outlook relies on a handful of strategic projects; the Cepu, Rokan, Offshore Mahakam, Tangguh and Corridor PSCs account for nearly half of total supply in 2022. Lower exploration activity in recent years, particularly in frontier areas, has meant fewer material development projects on the horizon. BP's FID of the Tangguh Expansion in 2016 was the last major project sanction. Key upcoming projects including INPEX's Masela (Abadi LNG), Repsol's Sakakemang and Chevron's Indonesia Deepwater Development (IDD) keep delaying. The Indonesian government has tried to boost upstream investment by continuing to focus on enhancing its fiscal offering, improving data access for its bid rounds, and streamlining its regulatory environment.
Table of contents
- Executive summary
- Key facts
- Location maps
-
Key companies
- PERTAMINA
- Other Indonesian operators
- Majors
- Other international operators
-
Geology
-
Introduction
- Tectonic Setting
- Sedimentary Basin Development
- Western Indonesia
- Eastern Indonesia
-
Introduction
-
Exploration
- Licensing
-
Licensing rounds
- 2022 bidding round
-
Historical licensing activity
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2011 - 2013
- 2001-2010
-
Unconventional licensing
- CBM
- Shale
- TAC and KSO contracts
-
Drilling
- Drilling activity
- Exploration incentives
- Success rates
-
Reserves and resources
- Reserves by report
-
Production
- Liquids
- Gas
-
Infrastructure
- Oil infrastructure
- Refining
-
Sumatra
- Pangkalan Brandan refinery (closed)
- Dumai refinery
- Sungai Pakning refinery
- Musi refinery - Plaju / Sungai Gerong
-
Java
- Balongan refinery
- Cilacap refinery
- Cepu refinery
- TWU (Bojonegoro) refinery
- Tuban - TPPI refinery
-
Kalimantan
- Santan Oil terminal
- Senipah Oil terminal
- Balikpapan refinery
- Natuna Sea
- West Papua
- Gas infrastructure
- LNG - liquefaction
- LNG - regasification
-
Sumatra
- South Sumatra-West Java project
-
Java
- West Java
- East Java
- East Kalimantan - Java pipeline
- Kalimantan
- Natuna Sea
- Sulawesi
- West Papua
-
Costs
- Introduction
-
Capital costs
- Capital expenditure by location
-
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
- State participation
- Licensing
- PSC expiry
- Decommissioning
-
Fiscal terms
- Overview
- Current fiscal terms
- Gross Split PSCs
- Government equity participation
- Indirect taxes
- Royalty
- PSC production sharing
- PSC cost recovery
- PSC profit sharing
- Domestic market obligation (DMO)
-
Corporate income tax
- Ring fencing
- Base
- Rate
- Fiscal treatment of decommissioning costs
- Product pricing
- Sample cash flow
- Cost Recovery PSC
- First tranche petroleum (royalty)
- PSC production sharing
- PSC cost recovery
- Investment credit
-
PSC profit sharing
- Specific profit sharing terms
-
Additional petroleum taxes
- Domestic market obligation (DMO)
-
Corporate income tax
- Ring fencing
- Base
- Rate
- Payment schedule
- Fiscal treatment of decommissioning costs
- Sample Cash Flow
- Other active legacy terms
- Joint operating agreements (JOA)
- Technical assistance contracts (TAC)
- Enhanced Oil Recovery Contracts (EOR)
-
Operation Cooperation Contracts (KSO)
- Production sub-type
- Exploration sub-type
- Historical background
-
Pre-1980
- Contracts of work
- Production sharing contracts
- PSC changes in the 1970s
-
1980s
- Tax changes in the 1980s
-
1990s
- PSC changes
- Tax changes in the 1990s
-
2000s
- PSC changes
- Tax changes in the 2000s
-
2010s
- PSC changes in 2010s
- Tax changes in 2010s
Tables and charts
This report includes 55 images and tables including:
- Key facts: Table 1
- Country Map
- Liquids and Gas Production 2021
- Reserves and resources: Table 1
- Remaining Liquid Reserves by Sector
- Remaining Gas Reserves by Sector
- Reserves and contingent resources at 01/01/2023
- Net Acreage 2023
- Blocks Awarded
- Active Blocks by Region
- Reserves and resources: Table 2
- Liquids Production by Sector 2010-2030
- Production: Table 1
- Production: Table 2
- Production: Table 3
- Production: Table 4
- Production: Table 5
- Production: Table 6
- Gas Production by Sector 2010-2030
- Production: Table 7
- Production: Table 8
- Infrastructure: Table 1
- East Kalimantan Gas Infrastructure Map
- Fiscal terms
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Summary of modelled terms
- Fiscal terms: Table 5
- Fiscal terms: Table 6
- Fiscal terms: Table 7
- Fiscal terms: Table 8
- Fiscal terms: Table 9
- Fiscal terms: Table 10
- Fiscal terms: Table 11
- Fiscal terms: Table 12
- Fiscal terms: Table 16
- Fiscal terms: Table 17
- Fiscal terms: Table 18
- Fiscal terms: Table 19
- Fiscal terms: Table 20
- Fiscal terms: Table 21
- Sedimentary basins of Indonesia
- Exploration drilling 1991 - 2021
- Geological and Commercial Success Rates
- Sumatra Oil Infrastructure Map
- Java Oil Infrastructure Map
- East Kalimantan Oil Infrastructure Map
- Sumatra Gas Infrastructure Map
- West Java Gas Infrastructure Map
- East Java Gas Infrastructure Map
- Costs: Table 1
- Costs: Table 2
- Fiscal terms: Table 13
- Fiscal terms: Table 14
- Fiscal terms: Table 15
What's included
This report contains:
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