Business News
Indonesia Targets over $372 Billion in Investment to Speed Up Recovery
Massive investment is needed for the economy to grow by 5 percent year-on-year (yoy) in 2021, with a major contribution from the private sector, according to the National Development Planning Agency (Bappenas). It further estimates that investment expenditure would have to be between Rp 5.81 quadrillion (US$372.97 billion) and Rp…
SKK Migas Expects Italy’s Eni to Take Over Gas-Rich IDD Project by First Quarter of 2021
Indonesia has pinned its hopes on Italy-based oil and gas supermajor Eni to take over the multibillion-dollar deepwater development (IDD) project in the Makassar Strait by March 2021 at the latest, right on the heels of Chevron’s exit. Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) head Dwi Soetjipto…
Garuda Indonesia Offers Exports of Leading Commodities in Bengkulu
The management of PT. Garuda Indonesia offers cooperation to the Bengkulu Provincial Government (Pemprov) to export superior commodities via cargo directly from Bengkulu to the destination country. "Garuda offers Bengkulu commodity exports to directly use Garuda's cargo. Currently we are exploring it because there are some of our potential commodities…
Indonesia to Double Development Drilling in 2021 amid Recovering Crude Prices
The Indonesian government estimates that the national oil and gas industry will drill 616 new wells this year as global crude oil prices begin recovering. The target is the highest since 2014 and a 150 percent increase from last year’s drilling activities. Brent Crude, the global price benchmark, hit US$56…
