SKK Migas Warns Inpex Over Delayed Masela Block Project

Surabaya, SPE ITS SC – PT MedcoEnergi Internasional Tbk, commonly known as MedcoEnergi, is a leading Indonesian company engaged in the Oil & Gas, Power Generation, and Copper & Gold Mining businesses. In the Oil and Gas sector, MedcoEnergi focuses on exploration and production activities, primarily within Indonesia.As of today, Friday, October 24, 2025, the Sustainable Development Report on its official website highlights Indonesia’s progress toward achieving SDG 7 – Affordable and Clean Energy. The report shows that Indonesia is moderately improving, although significant challenges remain. This demonstrates Indonesia’s continuous efforts to achieve the United Nations’ Sustainable Development Goals (SDGs) and its broader vision of realizing Indonesia Emas 2045.On Monday, October 13, 2025, MedcoEnergi announced through an official press release that the company has been reducing its gas fuel consumption to improve operational efficiency and support the national energy transition agenda. Several initiatives have been implemented across its oil and gas assets. One of the key initiatives is the optimization of the Waste Heat Boiler (WHB) operating mode at the Grissik field, Corridor Block, South Sumatra. WHB is a type of boiler that recovers and utilizes residual heat and exhaust gases from production processes that is still have sufficient power to generate steam, in order to improving efficiency and reducing environmental impact. This optimization has successfully reduced carbon emissions by approximately 19,000 tCO₂e per year.Additional optimization efforts have also been carried out at both offshore and onshore sites. At the Natuna Offshore field, MedcoEnergi optimized operations at the Terubuk-Belida facility by rerouting production flow to operate without compressors, resulting in an annual emissions reduction of about 24,000 tCO₂e. Onshore, the company has implemented electrification—the conversion of systems or processes powered by fossil fuels to electricity-based systems—by switching from gas-fueled generators to the national clean power grid (PLN), alongside optimizing operational modes. Electrification helps reduce energy costs, improve energy efficiency, and support the transition to clean and renewable energy.“Fuel gas efficiency and emission reduction are not merely technical targets but integral to MedcoEnergi’s long-term sustainability roadmap. Since 2022, our initiatives have cumulatively reduced fuel gas consumption by around 18 MMscfd. This achievement reflects our commitment to sustainable innovation, operational excellence, and responsible energy development, creating long-term value for stakeholders while reducing our carbon footprint,” said Ronald Gunawan, Director & Chief Operating Officer of MedcoEnergi.This demonstrates that MedcoEnergi, as a major player in the oil and gas industry, is not solely driven by profitability but also operates responsibly, consciously contributing to environmental sustainability starting from within its own operations.Moving forward, MedcoEnergi will continue strengthening its sustainability agenda through both medium and long-term roadmaps, while also implementing new technologies such as the Organic Rankine Cycle (ORC)—a thermodynamic cycle that uses organic fluids instead of water to convert heat into electricity, Steam Turbine Generators which convert steam heat into power, and energy storage systems. These initiatives reaffirm MedcoEnergi’s role as an adaptive and responsible energy company, fully committed to supporting Indonesia’s energy resilience and sustainable future.Writer: Aura Hammada

The Society of Petroleum Engineers (SPE) ITS SC recently organized the SPEak Up! Guest Lecture program in collaboration with SPE UTM SC from Malaysia and SPE PSU SC from the Philippines. With the theme 'Revolutionizing Production Through Next-Gen Oilfield's Digital Odyssey,' this collaborative initiative aims to enhance SPE members' understanding of the oil and gas industry perspectives in the digitalization era. Hosted annually by the Academia and Competency Development Department of SPE ITS SC, The recent SPEAK UP Guest Lecture featured industry experts, including Mr. Tomi Ihwanto from Pertamina Hulu Rokan, Engr. Arnold Gabuco from Philippines, and Dr. Ahmad Khanifar from Petronas Malaysia, shedding light on the transformative role of Artificial Intelligence (AI) in redefining oil extraction strategies and enhancing oil fields.The first session of the event, featured a presentation by Mr. Tomi Ihwanto which emphasized the importance of embracing digital technologies in order to stay competitive in the constantly evolving oil and gas industry. He highlighted this by saying, "Advancements such as Artificial Intelligence (AI), data analytics, and automation are redefining traditional practices within the sector, emphasizing the need for adaptation to ensure efficiency, sustainability, and competitiveness in today's oil and gas landscape." He then proceeded to describe various digital transformation initiatives that PT Pertamina Hulu Rokan has implemented and plans to integrate.. One of the implementations is the smart condition monitoring & analysis modeling that is able to detect the equipment degradation earlier by applying similarity based multiple online variables correlation. The abnormal condition can be detected earlier based on the trend difference between model and actual. Thus, optimizing the maintenance schedule and potentially saving on costs and avoiding downtimes.Mr. Arnold Gabuco started the next session by mentioning the importance of artificial intelligence (AI) in streamlining tasks, processing large datasets, and optimizing production workflows. He specifically noted, "AI's ability to undertake complex tasks efficiently and with minimal errors can revolutionize the oil and gas industry, making it an indispensable tool for ensuring operational reliability and efficiency by preemptively addressing potential equipment failures."And in the last session of the event, Dr. Khanifar highlighted the pivotal role of advanced analytics and AI-driven technologies in enhancing oil fields, stating, "These innovations collectively contribute to informed extraction strategies, ensuring optimal operations and real-time optimization by controlling the high gas to oil ratio (GOR) in wells." The lecture covered critical aspects, including the Field Development Plan overview and the meticulous Well Selection process. The discussion focused on the detailed implementation of the AI-HGOR Pilot, where Dr. Khanifar emphasized the importance of GOR control for reshaping the oil extraction landscape. The Multi Rate Test (MRT) analysis showcased a reduction in oil production with an increasing GOR, while the Advisory Model's integration into the process control scope underlined the transformative significance of these technological advancements. The presentation concluded with a powerful statement, offering a glimpse into the promising future of the industry.Written by: Satria Rafif Rafidianto

On the 13th of October 2023, the Society of Petroleum Engineers (SPE) Institut Teknologi Sepuluh Nopember (ITS) Student Chapter hosted an inspiring event titled 'Delegates Talk 1.0.' The objective of this program was to provide a platform for successful delegates to share their experiences and tips with members interested in excelling in the competitive world of oil and gas competitions.Asta Raziq, the PIC of the event, explained that the idea behind this was to meet the curiosity of numerous members who were eager to learn how to succeed in competitions. This program aimed to fulfill that desire by arranging face-to-face discussions with speakers who have excelled in oil and gas competitions. Asta Raziq stated, "Our main goal is to shed light on competitions since many members have shown an interest in this field. However, we also want to introduce them to SPE ITS SC on a deeper level. With this delegates' talk, we aim to demystify oil and gas competitions while showcasing fields that may be suitable for our members."The event commenced with presentations by two accomplished speakers, Samuel Zagota and Haya Aqila, who had previously achieved success in various oil and gas competitions, including being the 1st Winner in the Petroleum Business Case Competition at IPFEST ITB 2023. They shared insights into the structure, technicalities, and distinctive characteristics of case studies and business case competitions, providing valuable information to the enthusiastic members.Following these informative presentations, an engaging Q&A session was conducted where several members took the opportunity to ask the speakers about various competitions in the oil & gas field, such as oil rig design and paper competition. Many of the participants were freshmen, new to these competitions and unsure of where to begin. They sought advice and tips from the speakers on how to kick start their journey in these competitions. The exchange of questions and answers fostered a dynamic and engaging atmosphere, making it a valuable part of the event.The event continued with Asta Razqi, the Project Officer for the 2023 SPE ITS SC's Petroleague, presenting the 'Petroleague Roadshow.’ Petroleague is the annual internal competition of SPE ITS SC, this competition is suitable for beginners who want to start their competition journey. The highlight of the event was the Focused Group Discussion (FGD), where both speakers delved into their personal experiences and journeys in the oil & gas competitions. They patiently interacted with the members, addressing their questions and providing insights into their journeys in competitions. The speakers' willingness to discuss the hurdles they had overcome, the strategies they had employed, and the moments of inspiration that had fueled their success not only served as a source of motivation but also demystified the often intimidating world of oil and gas competitions.Through 'Delegates Talk 1.0,' SPE ITS SC not only catered to the interests of its members but also expanded their knowledge about the diversity of competitions within the oil and gas sector. Importantly, it encouraged members and delegates to participate in competitions organized by SPE ITS SC, including the annual Petroleague, and to explore many competitions outside of ITS. “Moreover, there will be a series of introduction series events with various competitions such as Oil Rig Design Competitions, Business Case Competition, Paper & Poster Competition, and Case Study Competitions with hope that members will be able to understand more about the competition and be able to take part in events that will be held in the future.” Asta concludedWritten By: Arya Nugraha Aulia Rahman Yusup

Oil prices have long been a key driver of economic trends around the world. As the primary source of energy for many industries and households, fluctuations in oil prices can have far-reaching effects on both advanced and developing economies. From transportation costs to inflation and industrial production, oil prices impact nearly every sector of the global economy. Given oil's status as a high-demand global commodity, significant price fluctuations can have profound economic consequences. Oil prices are determined by a mix of supply and demand, production costs, and market sentiment. Supply and demand are influenced by the oil futures market, where contracts are made to buy or sell oil at a specific price on a future date. The cost of extraction also affects prices—easily accessible oil is cheaper to produce, while complex methods like deep-sea drilling require costly technology, pushing prices higher. Lastly, market sentiment plays a role, as speculation about future demand can drive up prices when traders buy oil futures contracts in anticipation of future shortages or increased demand.In 2020, the demand for oil plugged during the pandemic, with lockdown causing the price to fall below zero for the first time in history to a sharp downturn in economic activity. Since then, oil prices have surged to nearly $100 per barrel, driven by strong economic recovery post-lockdown. As the economy grows, so does the demand for oil. Oil accounts for approximately 3% of global GDP and is one of the most important commodities worldwide.Source : world economic forumAn increase in oil prices affects not only gasoline cost but also virtually all goods and services. Oil serves as both a feedstock and source of energy and is integral to transportation across industries. When oil prices rise, energy is integral to transportation across industries. When oil prices ries, energy bills increase, and these costs are passed on to consumers through higher prices for goods and services. This often leads to inflation, as the cost of living rises and the purchasing power of consumers declines. For many countries, oil and gas revenues are central to their economic stability. Nations that are major exporters, such as Saudi Arabia and Russia, rely heavily on income from these resources to fund government spending, infrastructure projects, and social programs. When oil prices plummet, these countries face budget deficits, currency devaluations, and economic downturns. On the other hand, oil-importing nations, particularly in the developing world, struggle with rising import costs when prices increase, worsening trade deficits and slowing economic growth. The global dependence on oil and gas keeps national economies vulnerable to market shiftsThe oil and gas industry plays a critical role in global supply chains, especially in sectors like transportation, manufacturing, and agriculture. Rising oil and gas prices can disrupt supply chains by increasing the cost of raw materials, transportation, and energy-intensive production processes. For instance, the shipping industry, which relies on oil-based fuels, faces higher operational costs, which are then passed on to consumers. These disruptions can cause delays in the availability of goods, increase the prices of everyday items, and slow down global trade, impacting economies worldwide.Written by : Fairuz Nabila DaniputriReferences :World Economic Forum, 2022. *Why oil prices matter to the global economy: An expert explains*. World Economic Forum. Available at: [Accessed 16 September 2024].U.S. Energy Information Administration, 2022. *Indonesia – International analysis*. U.S. Energy Information Administration. Available at: [Accessed 16 September 2024].McKinsey & Company, 2020. *Oil and gas after COVID-19: The day of reckoning or a new age of opportunity?* McKinsey & Company. Available at: [Accessed 16 September 2024].