Jakarta, CNBC Indonesia – Director of TIS Petroleum, Tumbur Parlindungan, revealed the importance of upstream oil and gas investment as the key to increasing Indonesia’s oil and gas production.
Tumbur said that in the last 10 years upstream oil and gas investment has been very lacking so it is natural that the country’s oil and gas production continues to decline. Where, investment climate conditions that are not as attractive as other countries make investors ‘reluctant’ to enter Indonesia’s upstream oil and gas sector.
Tumbur also sees that the prospect of the gas sector, which is much higher than crude oil, should be an opportunity for increasing gas production. It’s just that infrastructure problems mean that gas reserves have not been utilized properly.
Apart from that, Tumbur assesses that the condition of legal certainty in Indonesia, which is currently at its lowest point, makes Indonesia’s oil and gas investment attractiveness less than that of other countries.
What are the prospects and challenges for Indonesia’s upstream oil and gas investment and production? For complete details, see Syarifah Rahma’s dialogue with the Director of TIS Petroleum, Tumbur Parlindungan and Oil and Gas Practitioner, Andang Bachtiar in Squawk Box.
