Indonesia’s ’embattled’ exploration and production sector is in ‘dire’ need of additional investment, according to BMI Research. Indonesia’s ‘embattled’ exploration and production sector is in ‘dire’ need of additional investment, according to BMI Research. The country is suffering from slowing exploration, rising costs from mature assets and a ‘seemingly perpetual decline’ in oil and gas output, energy analysts at BMI said in a brief report sent to Rigzone, which forecasted a steady drop in Indonesia’s oil and gas production to 2026. “Once the world’s largest exporter of LNG, the country is anticipated to start importing LNG for the first time from 2021, as declining production fails to keep pace with demand,” the report states. Although acknowledging that Jakarta has pursued various measures to generate greater interest in its upstream sector, analysts at BMI highlighted the need for more significant above ground improvements, particularly in its ‘notoriously complex and opaque […]