Tuesday, July 16, 2024

Pertamina EP: Geopolitics, a crucial factor in Indonesia’s oil & gas industry

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PT Pertamina EP, a subsidiary of State oil and gas company Pertamina, has identified the world’s geopolitical conditions as the biggest challenge for the country’s oil and gas industry due to its multiplier effect.

Bayu Kusuma Tri Aryanto, Vice President of Supply Chain Management Regional 2 at Pertamina EP, said that various wars and conflicts that occur in the world can affect the supply chain aspects to the industry as Indonesia’s upstream oil and gas industry still depends on other countries in terms of the amount of imports and technology needed by the oil and gas industry.

“If there is geopolitical turmoil, the supply side will also be affected, both in terms of material, activity, and most crucially, its commercialization,” Bayu said on Tuesday, June 11, 2024.

He added that the conditions and challenges in the oil and gas industry must be resolved immediately as they can affect the long-term plan for the oil and gas production target in 2030 of one million barrels of oil per day or 12 billion cubic feet per day.

However, he ensured that the 2030 production target from the supply chain management side could be achieved.

Meanwhile, at the Indonesia Upstream Oil & Gas SCM Summit 2024 event on June 10-11, 2024, investors and suppliers see that domestic oil and gas industry is still attractive and the opportunities are still quite large.

Bayu said further that in addition to geopolitical conditions, improving quality in order to meet the standards required in the oil and gas industry is another big challenge for the country.

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