Indonesian Petroleum Industry and Development: A Centennial Survey and Future Prospects
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asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, managemet journal
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Published: 28 May 2024

Indonesian Petroleum Industry and Development: A Centennial Survey and Future Prospects

Muhammad Kholid Syeirazi, Eko Prasojo, Muh Aziz Muslim

University of Indonesia, Indonesia

asian institute research, jeb, journal of economics and business, economics journal, accunting journal, business journal, management journal

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doi

10.31014/aior.1992.07.02.583

Pages: 165-175

Keywords: Oil and Gas Development, Ups and Downs, Future Prospects

Abstract

The contribution of oil and gas to development is a classic debate among scholars. Some believe that oil and gas are positively related to development, while others believe the opposite. This study examines the contribution of oil and gas to development in Indonesia. Historical analysis of long-term data series, extracted from statistical documents since the colonial era, shows a positive relationship between oil and development in Indonesia. Although its contribution fluctuates, oil and gas have contributed to growth and welfare. However, the future of Indonesia’s oil and gas industry is at stake. Declining reserves and production and shrinking upstream investment due to declining competitiveness amid the green energy transition agenda threaten the sustainability of Indonesia’s oil and gas industry in the future.

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