Indonesia's Petroleum Contracts: Issues and Challenges?
Article from: OGEL 1 (2005), in Production Sharing Contracts
Introduction
Indonesia introduced the Production Sharing Contract (PSC) in the mid sixties and the contract has been used as a model in various developing countries throughout the world. Since its introduction a new impetus was given to the oil industry. During the following ten year period the crude oil production increased more than three times to 1.7 million barrels a day in 1977. Indonesia started its role as supplier of LNG during 1977, and became the largest LNG exporter in the world. However, an overview of worldwide petroleum activities showed that Indonesia's competitive position has been ...