Companies / Indonesia
Indonesia Signs New PSCs
September 2006 | Contract NewsIndonesia has signed five new production sharing contracts (PSCs) with international oil companies (IOCs) in an attempt to boost the country's production. Indonesia, OPEC's second smallest member in production terms, is struggling to maintain output as the country has failed to tap new oilfields quickly enough. The new contracts, which cover a total offshore area of 28,088sq km, have been signed with US majors ExxonMobil and ConocoPhillips, Malaysia's state-owned Petronas, Canadian independent Husky Energy and a partnership of US firm Marathon Oil and Canadian explorer Talisman Energy. BMI believes that renewed interest from IOCs in the Indonesian upstream segment could,
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