Business and Investment
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SKK Migas to conclude Russian SOE divestment in Tuna Block by 2024
The Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) targets the divestment or replacement of Zarubezhneft in the Tuna Block, off the coast of East Natuna, to be decided this year. Deputy Head of SKK Migas, Nanang Abdul Manaf, said that several companies have shown interest in taking over the position of the Russian SOE.
Telkom, Indosat potential pillars for infrastructure in Q1 2024
Two Indonesia’s telecommunication giants − PT Indosat and PT Telkom Indonesia − are considered potential pillars for the infrastructure sector in the first quarter of 2024. Nafan Aji Gusta, Senior Investment Information at Mirae Asset Sekuritas Indonesia, views Telkom as a leader in the infrastructure sector, especially for short-term trading.
PLN builds over 624 EV charging stations until 2023
In support of Electric Vehicle use and development, PT PLN has built 54 units of Public Electric Vehicle Charging Stations (SPKLU) throughout 2023, bringing to a total of 624 SPKLUs in 411 locations that the State-owned electricity company has built across the country.
S&P Global notes Indonesia's Manufacturing PMI at 52.2 in December 2023
S&P Global reported that Indonesia's Manufacturing Purchasing Managers' Index (PMI) stood at an expansionary level of 52.2 in December 2023, representing a 0.5-point increase from November 2023, where it was at 51.7. The achievement of a PMI at the end of 2023 signifies the rapid pace of Indonesia's manufacturing sector in the last three months, continuing the trend of manufacturing expansion for the past 28 months.
Government secures CATL battery project investment of Rp 90.50 trillion
The government says that the entire investment plan of China's battery giant, Contemporary Emperex Technology Co. (CATL), amounting to US$5.8 billion or Rp 90.50 trillion has been finalized from upstream to downstream. PT Aneka Tambang Tbk. (Antam) has completed the sale and purchase agreement (SPA) transactions for the shares of its subsidiaries, PT Sumberdaya Arindo (SDA) and PT Feni Haltim (FHT), with CATL's affiliate HongKong CBL Limited (HKCBL) at the Ministry of Investment in Jakarta on December 28, 2023.
VKTR starts construction of EVs production facility
PT VKTR Teknologi Mobilitas Tbk (VKTR) signed a construction agreement with its affiliated company, PT Bakrie Construction, on 18 December 2023 for industrial and office construction works and services at VKTR's facility in Tempurejo Village, Tempuran Sub-district, Magelang Regency, Central Java.
SKK Migas, Premier Oil Andaman Ltd. begin Gayo-1 well drilling
The Upstream Oil and Gas Regulatory Task Force (SKK Migas), in collaboration with Premier Oil Andaman Ltd, has initiated the drilling of the Gayo-1 well exploration in the Andaman II Working Area (WK) on Sunday. The decision for this drilling was influenced by the significant findings in the Andaman II WK in 2022.
BP initiates tender for Tangguh LNG development in West Papua
The British oil and gas company has launched the prequalification of project management consultancy (PMC) services for the Ubadari field execution phase, gas recovery or carbon capture enhancements, utilization and storage, as well as onshore compression for the Tangguh Block at Bintuni Bay, West Papua.
Ministry: Coal gasification temporarily halted awaiting New Investor
The Ministry of Energy and Mineral Resources (ESDM) has announced on temporary termination of the coal downstreaming project, or coal gasification, into Dimethyl Ether (DME) in Indonesia following the withdrawal of a US-based petrochemical company from the consortium innvolving PT Bukit Asam Tbk (PTBA) and PT Pertamina (Persero).
Ministry : Development of Bauxite Downstream Industry “not quite encouraging”
The development of the Indonesia bauxite downstream industry has been less encouraging with only four companies having the capacity to process bauxite into alumina.
LNG Abadi Masela project resumed with US$ 20.9 billion investment
Inpex Masela Ltd, the operator of the Abadi Masela gas field project, held the ceremonial kick-off of the LNG Abadi Masela Project Management Team (PMT) on December 28, 2023.
President inaugurates Satria-1 Satellite, 4G BTS
President Joko Widodo officially inaugurated the operation of the Republic of Indonesia Satellite Earth Station or the Satria-1 satellite and Fourth Generation (4G) Base Transceiver Station (BTS) projects.