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Still hope for Indonesia's upstream, but incentives needed

Just under half of Indonesia's potential resources have not yet been produced

Indonesia's upstream sector, despite being mature, still holds huge potential with 45% of its discovered resources yet to be produced. But the nation needs to provide greater fiscal incentives to help it achieve its long-term production potential, says energy research firm Wood Mackenzie. Southeast Asia's largest producer, which produces 2.1 million barrels of oil equivalent per day (boe/d), still has the region's highest remaining reserves, estimated at 28 billion boe. Of that figure, 10bn boe is under development, while a further 2bn boe shows development potential.  The nation also has access to the bulk of region's deep-water exploration acreage.  Yet its production outlook is weak, part

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