Indonesian Watchdog Issues Warning Over Declining Reserves

Indonesia's upstream regulatory agency BP Migas has warned that the country's declining oil reserves could run out in a decade's time unless new reserves are identified. The country, which earlier this year announced its decision to leave the Organisation of the Petroleum Exporting Countries (OPEC) owing to its change in status to a net importer of crude, has been struggling to attract the investment it needs to arrest the rapid depletion of its oil reserves base.

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