Analysis of economic management problems and challenges in increasing investment in the upstream oil and gas industry
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Published:
Feb 28, 2024
Keywords:
Economic Management, Investment, Problems and Challenges, Upstream Oil and Gas
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Economy
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Abstract
Oil and gas is a very important industry in economic circulation which can contain the course of economic stability. In the oil and gas industry sector, it will really need the role of investors to provide funds in order to carry out oil and gas exploration and exploitation in accordance with the target. In this study using phenomenological qualitative research methods based on explanations related to facts that exist during the research process. The facts obtained from the analysis of problems and challenges of investment in the oil and gas industry will be presented qualitatively in accordance with the existing facts. In qualitative methods that describe related research objects that will provide meaning related to findings in the phenomenological category. This research was supported by the acquisition of data derived from focus group discussions (FGDs) conducted by the Expertise Agency with SKK Migas and the Ministry of Energy from Mineral Resources. The result of this study is that many factors that can affect upstream oil and gas investment are influenced by internal and external factors which must be overcome as a whole.
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How to Cite
Betty, D. (2024) “Analysis of economic management problems and challenges in increasing investment in the upstream oil and gas industry”, Jurnal Mantik, 7(4), pp. 2855-2861. doi: 10.35335/mantik.v7i4.4588.
References
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Braithwaite, D., Soelaiman, S., Wiroyudo, GK, Trimurdadi, H., Soeleman, S., Utomo, SP, & Rakhmanto, PA (2010). Fossil Fuels - At What Cost? Government Support for Upstream Oil and Gas Activities in Indonesia. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1702877
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Effendy, N. (2019). The impact of investment in the upstream oil and gas mining sector on the gross added value of labor absorption and imported content in Indonesia. Journal of Strategic Management and Business Applications, 2 (2), 145–154. https://doi.org/10.36407/jmsab.v2i2.76
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Muarofah, S., & Falianty, TA (2020). The Investment of Upstream Oil and Gas in Indonesia. TRACE, 13 (1), 203–217. https://doi.org/10.15294/jejak.v13i1.23248
Muktaf, ZM (2016). Case Study Research Techniques, Ethnography and Phenomenology in Qualitative Methods. Journal of Education, 3 (1), 1–5.
Najicha, F.U. (2021). Oil and Natural Gas Management Policy in Realizing Equal Energy in Indonesia. Journal of Human Rights, Culture and Legal Systems, 1 (2). https://doi.org/10.53955/jhcls.v1i2.8
Paramita, R. (2022). Problems and challenges in increasing investment in the upstream oil and gas industry. Budget Journal: Issues and Problems of State Finance, 7 (2), 185.
Purwanto, W. W., Muharam, Y., Pratama, Y. W., Hartono, D., Soedirman, H., & Anindhito, R. (2016). Status and outlook of natural gas industry development in Indonesia. Journal of Natural Gas Science and Engineering, 29, 55-65.
Rosdiana, H., & Sidik, M. (2015). Indonesia property tax policy on oil and gas upstream business activities to promote national energy security: quo vadis. Procedia Environmental Sciences, 28, 341-351.
Sujatmoko, E., Yuniza, ME, -, D., Ariadji, T., Mardiana, R., -, I., & Butar, FB (2020). The simplification of Upstream Oil and Gas Business license in Indonesia. Research, Society and Development, 9 (2), e16921950. https://doi.org/10.33448/rsd-v9i2.1950
Tambunan, MRUD, & Togatorop, G. (2021). Dualism of Cost Recovery Provisions as a Basis for State Levy on the Upstream Oil and Gas Industry. Veritas et Justitia, 7 (1), 56–90. https://doi.org/10.25123/vej.v7i1.3740
Aprizal, MF, Juanda, B., Ratnawati, A., & Muin, A. (2022). Indonesian Upstream Oil & Gas Governance for Sustainable Innovation. Journal of Management and Organization, 13 (1), 48–60. https://doi.org/10.29244/jmo.v13i1.40427
Arifin, K., Hidayat, D., & Arifin, I. M. (2021). Management Of The Oil And Gas Industry In Indonesia Managerial Perspective (Study In The Indonesian Upstream Oil And Gas Industry). Dinasti International Journal of Management Science, 2(3), 381-395.
Arifin, K., & Hidayat, D. (2021). Cost Recovery Analysis in Production Sharing Contract in Upstream Oil and Gas Industry (Study on Gas Upstream Industries Indonesia). Dynasty International Journal of Economics, Finance & Accounting, 1 (6), 1023–1047. https://doi.org/10.38035/dijefa.v1i6.356
Bhastary, M. D., Lubis, A. R., Utami, S., & Kesuma, T. M. (2023). Implementation Of Talent Management as An Effort to Realize Sustainable Performance of The Palm Oil Industry in Indonesia. Calitatea, 24(195), 255-262.
Boyd, M., Devero, A., Frias, J., Meyer, J., & Ross, G. (2010). A note on policies for the oil and gas sector. Bulletin of Indonesian Economic Studies, 46(2), 237-248.
Braithwaite, D., Soelaiman, S., Wiroyudo, GK, Trimurdadi, H., Soeleman, S., Utomo, SP, & Rakhmanto, PA (2010). Fossil Fuels - At What Cost? Government Support for Upstream Oil and Gas Activities in Indonesia. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1702877
Davidson, J. S. (2015). The Demise of Indonesia's Upstream Oil and Gas Regulatory Agency: An Alternative Perspective. Contemporary Southeast Asia, 37 (1), 109–133. https://doi.org/10.1355/cs37-1e
Effendy, N. (2019). The impact of investment in the upstream oil and gas mining sector on the gross added value of labor absorption and imported content in Indonesia. Journal of Strategic Management and Business Applications, 2 (2), 145–154. https://doi.org/10.36407/jmsab.v2i2.76
Fadillah, S., & Soesanto, E. (2023). Analysis of the Impact of Upstream Oil and Gas Industry Activities on National Development in Indonesian Regional Economic Aspects. Creative Student Journal, 1 (4). https://doi.org/doi.org/10.59581/jmk-widyakarya.v1i4.647
Firmansyah, M., Masrun, M., & S, IDKY (2021). The Essence of the Difference between Qualitative and Quantitative Methods. Elasticity-Journal of Development Economics, 3(2), 156-159. ELASTICITY: Journal of Development Economics, 3 (2), 156–159.
Hanafie, N., Haris, H., & Agus, A. A. (2023). Juridicity of Oil and Gas Management in Indonesia as State Control Right (HMN). Technium Social Sciences Journal, 50, 475-485.
Irawan, AB, & Riawan, DAE (2023). Executing Upstream Oil and Natural Gas Business Activities: Legal Status and Authority of the Oil and Gas Special Working Unit (SKK). Journal of Sustainable Development and Regulatory Issues (JSDERI), 1 (1), 9–17. https://doi.org/10.53955/jsderi.v1i1.2
Kamal, K. (2019). Implementation of Health Systems in the Upstream Oil and Gas Industry. University of Indonesia Publishing.
Khairunnisa, N. F. (2016). The International Legal Review Of The Management Of Oil And Gas In Indonesia. Tadulako Law Review, 1(1).
Kuswarno, E. (2007). The Phenomenological Tradition in Qualitative Communication Research: A Research Guide from Research Experience. Sosiohumaniora: Journal of Social Sciences and Humanities, 9 (2), 161. https://doi.org/doi.org/10.24198/sosiohumaniora.v9i2.5384
Ludwina Lilasari, L., & Siallagan, M. (2023). Navigating Upstream Indonesia's Oil and Gas (O&G) Services Industry Amidst the Cleaner Energy Transition Era with A Scenario Planning Framework. European Journal of Business and Management Research, 8 (4), 192–201. https://doi.org/10.24018/ejbmr.2023.8.4.2043
Manohara, BP, & Juwana, H. (2023). Upstream Oil and Gas Management in a Number of Oil Producing Countries. RajaGrafindo Persada-Rajawali Press.
Muarofah, S., & Falianty, TA (2020). The Investment of Upstream Oil and Gas in Indonesia. TRACE, 13 (1), 203–217. https://doi.org/10.15294/jejak.v13i1.23248
Muktaf, ZM (2016). Case Study Research Techniques, Ethnography and Phenomenology in Qualitative Methods. Journal of Education, 3 (1), 1–5.
Najicha, F.U. (2021). Oil and Natural Gas Management Policy in Realizing Equal Energy in Indonesia. Journal of Human Rights, Culture and Legal Systems, 1 (2). https://doi.org/10.53955/jhcls.v1i2.8
Paramita, R. (2022). Problems and challenges in increasing investment in the upstream oil and gas industry. Budget Journal: Issues and Problems of State Finance, 7 (2), 185.
Purwanto, W. W., Muharam, Y., Pratama, Y. W., Hartono, D., Soedirman, H., & Anindhito, R. (2016). Status and outlook of natural gas industry development in Indonesia. Journal of Natural Gas Science and Engineering, 29, 55-65.
Rosdiana, H., & Sidik, M. (2015). Indonesia property tax policy on oil and gas upstream business activities to promote national energy security: quo vadis. Procedia Environmental Sciences, 28, 341-351.
Sujatmoko, E., Yuniza, ME, -, D., Ariadji, T., Mardiana, R., -, I., & Butar, FB (2020). The simplification of Upstream Oil and Gas Business license in Indonesia. Research, Society and Development, 9 (2), e16921950. https://doi.org/10.33448/rsd-v9i2.1950
Tambunan, MRUD, & Togatorop, G. (2021). Dualism of Cost Recovery Provisions as a Basis for State Levy on the Upstream Oil and Gas Industry. Veritas et Justitia, 7 (1), 56–90. https://doi.org/10.25123/vej.v7i1.3740
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