Exploration & Production

Indonesia’s upstream grab threatens ConocoPhillips

President Joko Widodo's resource nationalism drive means Conoco's contract for the Corridor block could be in jeopardy President Joko Widodo's resource nationalism drive means Conoco's contract for the Corridor block could be in jeopardy.
By Damon Evans 4 September 2018 0 32402
Production infrastructure off indonesia A production platform offshore Indonesia. (SKKMigas)

ConocoPhillips looks set to be the next foreign operator to lose out under Indonesian President Joko Widodo’s resource nationalism drive, especially given he has just appointed a pro-nationalisation figure as head of Pertamina. The move signals that the prevailing negative sentiment towards foreign investors is unlikely to improve soon. 

Conoco has expressed interest in extending its production-sharing contract (PSC) for the Corridor block in South Sumatra. The block is a key gas supply source for Indonesia and...