Indonesia's upstream sector, after a decade of production decline and several years of investor uncertainty, is finally upping its game. Southeast Asia's E&P business has been on something of a roller coaster ride over the past year or two. The region's ups and downs have seen its established producing basins struggle to attract explorers, while paradoxically several world-class projects have or are successfully coming to fruition that will place it firmly in the spotlight. Indonesia, Australia and Malaysia all have major field developments involving multiple billions of dollars that were sanctioned in better times that have or are due to start producing, such as Bangka (Indonesia), Kanowit (Malaysia) and Prelude (Australia). But all are facing a dramatic drop-off in terms of new exploration and field project activity as this crop of developments comes online with little else set to follow.
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