Indonesia's Pertamina aims to boost its oil and gas production to more than 1 million b/d of oil equivalent in 2022, as Southeast Asia's biggest economy aims to capitalize on high commodity and energy prices to expand the country's current account surplus, according to management sources at the company. January 11, 2021 - PT Perusahaan Gas Negara Tbk (PGN), as the Sub holding Gas of PT Pertamina (Persero), is committed to being part of the solution in various roles that are carried out in the energy sector. Especially to manage midstream and downstream businesses to distribute national gas and support the acceleration of completing the gas infrastructure master plan in Indonesia. Natural Gas Consumption. Natural gas consumption has been decreasing since 2020, to 38 bcm in 2022 (-1.2%/year on average). This followed a sharp decline in 2020 (-13%). It remained relatively stable over 2010-2019. Industry is the largest consumer of gas (43%), followed by power generation with 33% and the hydrocarbon sector (oil and gas Indonesia's energy market in 2020 . In 2020, oil accounted for almost two-thirds of the decline in primary energy consumption with its share dropping to 35% of the energy mix . 1. Indonesia was the second largest coal producer globally (14 EJ) with coal used for in natural gas (-0.1 EJ) and coal In late-2015 I Gusti Nyoman Wiratmaja, Director General of Oil & Gas at the Ministry of Energy and mineral Resources, said Indonesia needs over USD $32 billion worth of investment (mostly from the private sector) for natural gas refineries, storage facilities, and gas-related infrastructure in order to meet domestic gas demand by 2025 CNG Compressed Natural Gas CoD Certificate of Domicile DEN Dewan Energi Nasional (National Energy Council) Oil and Gas in Indonesia Investment and Taxation Guide 11 Some softening of prices has been seen in the first half of 2019, with West Texas Intermediate (WTI) below US$ 60/barrel at the end of July. Tangguh LNG Train 3 in West Papua, Indonesia (0.5 Bcf/d capacity), Select regional spot prices: Natural gas spot prices fell at most locations this report week (Wednesday, January 25 to Wednesday, February 1), but increases were seen in both the West and Northeast. Week-over-week price changes ranged from a decrease of $3.62/MMBtu at Sumas Share price unavailable close overlay. Search. Suggestions (Berau), Limited, KG Berau Petroleum Ltd., Indonesia Natural Gas Resources Muturi, Inc., KG Wiriagar Petroleum Ltd. Signed at the 2023 Indonesia Oil & Gas (IOG) Forum that takes place on 20-22 September 2023 in Nusa Dua, Bali, the study by Pertamina aims to support potential growth As Indonesia seeks to leverage higher global oil and gas prices, while reducing the need for imports, the production target for natural gas in 2022 has been set higher. Oil and gas production has a long history in Indonesia, with Indonesia being an international pioneer in many areas, developing the Production Sharing Contract model and the Indonesia consumes 1,494,608 million cubic feet (MMcf) of natural gas per year as of the year 2017.; Indonesia ranks 20th in the world for natural gas consumption, accounting for about 1.1% of the world's total consumption of 132,290,211 MMcf.; Indonesia consumes 5,651 cubic feet of natural gas per capita every year (based on the 2017 population of 264,498,852 people), or 15 cubic feet per byM7D.