Indonesia Deepwater Congress 2013

Indonesia Deepwater Congress 2013 (IDC 2013), April 3-4, Jakarta, Indonesia. IDC 2013 attendees are offered an unparalleled look into what’s new and what’s on the horizon in deep offshore upstream business in Indonesia.

Once the only OPEC member in Asia Pacific, Indonesia has been active in the oil and gas sector for more than 125 years after its first oil discovery in North Sumatra in 1885, and continues to be a significant player in the international oil and gas industry. Moreover, as a vital part of the Indonesian economy, the oil and gas industry has been and will continue to contribute to Government export revenues and foreign exchange. Now as the “I” in the CIVETS countries, Indonesia is on course to be the world’s sixth largest economy. Accordingly, the demand for oil and gas will continue to grow in Indonesia.

However, over the last decade Indonesia’s crude oil production has declined due to the natural maturing of producing oil fields, a slower reserve replacement rate and decreased exploration/investment. In 2011, Indonesia’s total crude oil production was 0.902 million barrels per day, a drop of 34 percent since 2001.

The major trends in Indonesia oil and gas upstream are: from west to east and from shallow water to deepwater. Currently most oil production and exploration is carried out in the basins of Western Indonesia. The Government hopes to encourage increased exploration and, with few significant oil discoveries in Western Indonesia in the last 10 years, Government incentives such as encouragement of 3D seismic surveys have focused on developing oil reserves in eastern Indonesia’s frontier and deepwater areas.