The government has not yet decided who will manage Oil and Gas Block Jabung’s contract period will expire in 2023. However, the latest news is that PetroChina and Pertamina have joined forces again to submit a management offer simultaneously.
Previously, the two companies competed with each other to manage the block. Deputy Head of SKK Migas Fatar Yani Abdurrahman said that currently his party is still reviewing the bid proposal in the Jabung Block.
This study process is very important before being submitted to the Ministry of Energy and Mineral Resources. “Lastly they rejoined the application. Still in review us, “Fatar told Katadata.co.id, Wednesday (2/6).
In the process of offering the extension, the companies involved in the management of the Jabung Block are also discussing changes to the composition of participating rights. This is because PetroChina and Petronas plan to sell part of their participating interest in the block.
Petrochina International Jabung Ltd is currently the operator of the Jabung Block with 27.85% management rights. Apart from PetroChina, Pertamina through PT Pertamina Hulu Energi (PHE) Jabung has the right to manage 14.28%. Other management rights holders are Petronas Carigali at 27.85% and PT PP Oil & Gas at 30%.
The founder of the ReforMiner Institute, Pri Agung Rakhmanto, believes that the management of terminated oil and gas blocks should not only look at the dichotomy of who is the best in managing a block. The technological and economic calculations are equally important.
For Indonesia, with a production of 10 thousand barrels per day (BOPD), the Jabung Block is quite attractive for oil and gas companies. Moreover, there is still potential for further development and optimization, so that production can increase by 20% to 30%.
“We just have to see whose proposal is better for national production and the investment climate as a whole,” he said.
Until the end of March 2021, SKK Migas recorded that the Jabung Block’s average oil production reached 14,760 bopd or 92.3% of the block’s target as stated in the Revised State Budget (APBN-P) 2021. Meanwhile, the realization of gas lines reached 171 million standard cubic feet per day (MMSCFD) or 94.7% of the target.
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