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Indonesia expects to add more oil and gas reserves from 14 exploration activities

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JAKARTA (RambuEnergy.com) – Indonesia could add 803 million barrels of oil and 1.591 billion cubic feet of gas reserves from potential discoveries of 14 exploration activities, according to the Energy and Mineral Resources Ministry.

The Head of Communication Division of the Special Task Force for Upstream Oil and Gas (SKK Migas) Wisnu Prabawa Taher was quoted by Bisnis Indonesia as saying that the companies that conducted the explorations need to submit a plan of development (PoD) to prove the potential discoveries.

He said it takes about two to three years before they submit the PoD. After the potential discovery is detected during the explorations, they now enter the next phase, namely reprocessing the data, conducting a review and then preparing the PoD.

The potential discoveries spread in the regions, from Sumatera to Sulawesi Island. From the exploration activities, there are potential discoveries of gas in seven areas.

The exploration activities that were conducted namely, Kumis-2 by PHE Siak which hinted at oil discover, Novera-1 (South Sumatera), KKX-1 (ONWJ), Akasia Maju-1 (Java), PHR-01 (Pertamina EP), TKBY-2 (Saka Energi), Paus Biru-2 (Santos), PHE-7 (WMO), Taubah-1 (Petronas), SW Sawel-1 (Medco E&P), SE Sembakung (JOB Medco), Brajanata-1 (Pertamina EP), Merakes East-1 (ENI) and Wolai-1 (Indonesia Sulawesi Block).

In 2018, oil and gas exploration activities managed to add 831.5 million barrels of oil equivalent in reserves.

He said the additional discoveries resulted in improving the reserve replacement ratio (RRR) in 2018 to 105.6%, meaning that Indonesia discovers more than it produces in the year.

Meanwhile, Deputy Planning of SKK Migas Jaffee Arizon Suardin said that if the 45 PoDs are approved this year, Indonesia has the potentiality to add oil and gas reserves by 2.8 billion barrels of oil equivalent.

Among major development plans is PoD of Senoro, PoD of Masela Block and Indonesia Deepwater Development PoD. “We hope that the 45 PoDs will all be approved,” Suardin said.

As for this year, the expected commercial operation of 13 upstream oil and gas projects would add 1,300 million standard cubic feet per day (mmscfd) of gas and 8,600 barrels of oil per day with a combined investment of US$702 million.

Written by Staff Writer, edited by Roffie Kurniawan (email: roffie.kurniawan@gmail.com)

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