Indonesia Invites Firms to Explore 108 Untapped Oil and Gas Basins ...Middle East

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Indonesia Invites Firms to Explore 108 Untapped Oil and Gas Basins
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Indonesia looks to unlock its upstream potential by offering more than 100 previously untapped oil and gas basins to global investors for exploration.  Southeast Asia’s biggest economy, which is also a major oil and gas producer, aims to reverse its decade-long production decline and bolster national energy security.  Indonesia targets to nearly double its oil production to 1 million barrels per day (bpd) of crude oil. Currently, Indonesia pumps about 600,000 bpd of crude.    Indonesia has developed only 20 out of…

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