Indonesia Quits OPEC Reasons and Implications

Published : July 2008
No. of Pages : 31

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Summary

Indonesia, the only OPEC member from the Southeast Asian region, was one of the major oil producers for many years. However, the recent years witnessed a steep decline in the country’s petroleum production that led to its parting from OPEC.

Scope

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1 Table of Contents
1.1 List of Figures

2 GlobalData View Point
2.1 Summary

3 Indonesia Quits OPEC: Reasons and Implications
3.1 Indonesia as an OPEC member
3.1.1 Production
3.1.2 Indonesian Oil Sector
3.1.3 Imbalance in balance of trade
3.2 Reasons for Indonesia Quitting OPEC
3.2.1 Declining oil production
3.2.2 No longer a net exporter
3.3 Impacts of Indonesia leaving OPEC
3.4 Indonesia’s future strategy
3.5 Conclusion

4 Recent Developments
4.1 Acquisition
4.1.1 Eni Signs A Memorandum Of Understanding With PT Pertamina
4.1.2 Exxon Mobil Signs An Agreement With PT Pertamina
4.2 Asset Transactions
4.2.1 Pan Orient Acquires 90% Working Interest In The 3,989 Square Kilometer Batu Gajah Production Sharing Contract
4.2.2 PT Sarana Patra, PT Blora Patragas, PT Petro Gas And PT Asri Dharma Acquires 10% Interest In The Cepu Field From PT Pertamina And Exxon Mobil

5 Recent Developments
5.1 License Awards
5.1.1 May 27, 2008: Eni Wins New Exploration Block In Indonesia
5.1.2 May 23, 2008: Indonesia Awards Exploration Rights For Five Oil And Gas Blocks
5.1.3 May 02, 2008: Chevron Gets Approval From Indonesian Government To Develop Galan Block
5.2 Strategy and Business Expansion
5.2.1 Jun 24, 2008: Pertamina, Talisman To Cooperate On Recovering Oil In Indonesia
5.2.2 May 14, 2008: INPEX To Disclose Plans To Develop Abadi Field In Timor Sea
5.2.3 Jan 21, 2008: Pertamina To Take 15% Of Exploration Contracts Signed In 2008
5.3 Recent Discoveries
5.3.1 Jun 30, 2008: GPI Hits Crude Oil In Indonesia
5.3.2 May 22, 2008: CITIC Resources Announces New Oil Discovery In Oseil Oilfield, Indonesia
5.3.3 Feb 29, 2008: Pertamina Discovers New Oil And Gas Reserve
5.4 Drilling and Production Updates
5.4.1 May 16, 2008: BPMIGAS Says 13 New Oil And Gas Fields To Begin In 2008
5.4.2 Apr 02, 2008: Pertamina Looks To Increase Its Oil And Gas Production In 2008
5.4.3 Jan 24, 2008: Pertamina Announces 2008 Production Target
5.5 Other Significant Developments
5.5.1 May 28, 2008: Indonesia Quits OPEC, As Declining Investment In Oil Production Directs To Low Export Levels
5.5.2 May 28, 2008: Indonesia’s Crude Output Likely To Rise In April
5.5.3 May 08, 2008: Indonesia To Work With Private Cos To Restore Its Oil Output
5.5.4 May 06, 2008: Indonesia Considers Quitting OPEC As Crude Output Declines
5.5.5 Apr 28, 2008: Indonesia To Miss Oil Production Target
5.5.6 Mar 19, 2008: BPMIGAS Targets Output To Reach Over One Million Barrel A Day In 2008
5.5.7 Jan 18, 2008: Pertamina To Invest $3 Billion In 2008

6 Appendix
6.1 Methodology
6.1.1 Coverage
6.1.2 Secondary Research
6.1.3 Primary Research
6.1.4 Expert Panel Validation
6.2 Contact Us
6.3 About GlobalData
6.4 Disclaimer

1.1 List of Figures
Figure 1: Balance of Trade in Indonesia, 1980-2007
Figure 2: Production Vs Consumption, 1980-2007
Figure 3: Imports Vs Exports, 1980-2007
Figure 4: GlobalData Methodology

Indonesia Quits OPEC Reasons and Implications

Published By: GlobalData

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