Indonesia's top lawmakers are now starting to face the reality of the nation's Production Sharing Contracts system, which have been unable to stop the steady decline in Indonesia's crude production.
Putting the archipelago's oil production on the road to recovery remains the key issue among Indonesia's political elite, as evidenced by statements made by Indonesia's Energy Minster, claiming that Increasing Oil Production is Indonesia's top priority.
The nation's crude output currently languishes at levels below the OPEC production quotas, which is a far cry from the late 1990s, when Indonesia was exceeding its OPEC production quotas.
However, the nation's Energy Ministry is of the opinion that the nation has no shortage of energy resources, as there is an estimated reserve of 9 billion barrels of proven and potential crude, and 182 trillion cubic feet of gas. Indonesia's Power sector is also enjoying rapid growth with state-owned power-utility PT PLN initiating its fast track program by building 35 coal-fired power plants to provide an additional supply of 10,000 megawatts of power for domestic consumption.
Changes made to the PSC regulations and guidelines and the updated cost recovery and government audit structure will only serve to have a positive impact on foreign companies investing into the Indonesian Upstream sector.
2nd Indonesian OGP , organized by Singapore's CMT, will present the latest updates and information on Indonesia's energy sector that is currently going through a very energetic revival.
Riding on the laurels of the highly successful Indonesian OGP 2007, 2nd Indonesian OGP will once again bring industry leaders and top government officials to discuss Indonesia's exciting energy sector.
The conference, which is on 27-28 February 2008, will be held in Jakarta's Hotel Mulia Senayan.
2nd Indonesian OGP remains the most important conference for all with a stake in Indonesia's energy sector, and is attended by top industry players seeking information and updates for strategy realization and investment optimization in Indonesia's energy sector.
In addition to the revised PSC regulations updates, 2nd Indo OGP will also have a sharing of information on the availability of oil blocks in Deepwater and Brownfield areas and the fiscal incentives for investment in high risk areas from upstream regulatory body BPIMigas.
Indonesia's position in the Asian Energy Economy is also one of the major issues being discussed at 2nd Indonesian Oil Gas and Power conference. Purvin and Getz, one of the top Energy Consultancy firms, will share on the outlook for Indonesia's crude, petrochemicals and natural gas markets.
Revisions to the electricity law and the liberalization of the market are all aimed at providing Independent Power Players with the opportunity to invest more aggressively into Indonesia's power sector. At 2nd Indoensian OGP, PT PLN and MEMR will share on strategies to optimize power supply to meet shortages. In addition to this, more light will be shed on the "fast track program" and BOT, BTO and BT contracts.
Other issues discussed at the conference will also include, deepwater project trends and risks, the role of CDM in Indonesia's oil gas and power sectors, the domestic petrochemical markets outlook and up coming refining technologies and demand, updates on the status of the longest gas transmission trunkline and its throughout, and the full market liberalization of the Indonesia's domestic retail fuel markets.
2nd Indonesian Oil Gas and Power will create a networking platform for government officials, major players in the Oil and Gas markets, as well as various entities in the vast supply chain of the energy sector.
For more information on the conference, including agenda, contact Divya at 65 6346 9140 or visit http://www.cmtevents.com
About Center for Management Technology
A global organizer HQ in Singapore, CMT is dedicated to the provision of latest business and technology information through high profile conferences for varied industries. CMT forums encircle the globe from Asia Pacific to Middle East to New Europe/Russia and the Americas. In its 25 years of operation, CMT has hosted leading conferences on Petroleum, Refining, Liquid Natural Gas, LPG, ground breaking summit on technologies like Coal to Liquids, Gas to Liquids, and Bio-mass to Liquid, and alternative energy or future fuels forums like Biodiesel, Biofuels and Ethanol. Visit http://www.cmtevents.com
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