Figure 1. Joshua Ngu (representative of Wood MacKenzie) delivered his opinion regarding the future of oil and gas industry in Asia Pacific.
PYC attended the workshop on October 10, 2019, at Wisma Mulia City Plaza, Jakarta. It was organized by ASPERMIGAS or the association of oil and gas national companies. It aimed to discuss the latest trends, opportunities, and breakthroughs of the oil and gas industry in Indonesia and financial access to funding the sector. The event was attended by participants from oil and gas companies, state-owned enterprises (BUMN), regional owned enterprises (BUMD), national banking, and private companies.
Dwi Soetjipto (Head of Special Task Force for Upstream Oil and Gas Business) opened the event on behalf of Minister of Energy and Mineral Resource of Indonesia. He emphasized that Indonesia has challenges in increasing its oil and gas national production. Some of them are fluctuations in global oil prices and the high cost for exploration of oil and gas reserves and enhanced oil recovery (EOR) technology. The solution is a collaboration between oil and gas enterprises and the banking sector in terms of investment.