Global Strategies of International Oil Companies and Their Activities in Indonesia under Energy Transition

Ryohei Masumoto

No 2024-RPR-19 in Books from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: This report examines the activities of International Oil Companies (IOCs) in Indonesia. Chapter 1 provides an overview of the global energy landscape, which serves as the background for this report. While the COP26 conference in 2021 accelerated the global momentum toward carbon neutrality, the 2022 energy crisis, triggered by the conflict in Ukraine, disrupted this progress. Chapter 2 delves into the global strategies of IOCs as a precursor to understanding their activities in Indonesia. In response to the energy crisis, some European IOCs have cautiously increased their exploration and production (E&P) efforts. Chapter 3 focuses on the oil and gas business activities of IOCs in Indonesia. Notably, Chevron, ConocoPhillips, and Shell have exited Indonesia's E&P sector, while companies like Eni and INPEX are actively pursuing new development projects. Chapter 4 explores the key factors necessary to create a win–win relationship between the Indonesian government and IOCs.

Date: 2024
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