Jakarta –
President Joko Widodo (Jokowi) received representatives from Italian oil and gas giant Eni. Minister of Energy and Mineral Resources Arifin Tasrif took part in the meeting and said that Eni would restore natural gas production in Indonesia by making investments worth hundreds of trillions of rupiah.
Arifin explained that Eni would increase gas production by 6.8 TCF with a total investment of US$ 16 billion or around Rp. 249 trillion (exchange rate Rp. 15,600).
“Yes, I will accompany Eni. Eni’s development will invest US$ 16 billion in Indonesia. To increase gas production,” said Arifin when met at the Presidential Palace Complex, Central Jakarta, Friday (2/2/2024).
Arifin explained that Eni so far has participation rights in the oil and gas working area in East Kalimantan. He explained that Eni had acquired Neptune’s participation rights and also the development of IDD from Chevron.
He continued the possibility that Eni would start large-scale gas production starting in 2025 and peaking in 2027.
“In East Kalimantan. That’s Neptune and previously the IDD was also with Chevron. Yes, starting from this. We hope production will start from 2025, 2026, peaking in 2027,” said Arifin.
“Eni is already operating there. He was already there. Previously he joined Neptune then Neptune farmed out after Eni took his shares. So now it is 100% Eni, previously this group acquired Chevron’s IDD,” he continued.
According to detikcom notes, in 2023, Eni reportedly discovered giant gas reserves in the North Ganal Working Area in East Kalimantan. The discovery of an oil and gas ‘treasure’ is said to be one of the largest in the world.
Head of SKK Migas Dwi Soetjipto expressed his appreciation for the discovery of gas reserves in the North Ganal Working Area in East Kalimantan in significant quantities with an initial estimate of gas in place of 5 trillion cubic feet (tcf). This news was conveyed by the Head of Regional and Far East Eni when he met Dwi Soetjipto at the ADIPEC event (1/10) in Abu Dhabi.
With initial estimates of discovered resources of +/- 609 MMBOE (recoverable), this discovery makes the discovery at the Geng North-1 well one of the top 3 world exploration discoveries in 2023.
Dwi said, with the initial estimate of finding gas in place of 5 tcf, it will be one of the giant discoveries that will significantly increase gas reserves to support a sustainable increase in national oil and gas production and achieve the 2030 target, namely oil production of 1 million barrels per day (BOPD) and gas 12 billion cubic feet per day (BSCFD).
It is believed that the giant discovery will encourage more massive exploration investment in the future considering that the national oil and gas potential is still promising because of the 128 basins, there are still 68 basins that have not been drilled.
“We hope that the discovery of gas reserves in North Ganal by an international oil company (IOC) will encourage more IOCs to enter Indonesia. This is certainly the result of one of the government’s efforts to increase the competitiveness of the national upstream oil and gas industry,” explained Dwi in a written statement , last Wednesday (4/10/2023).
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2024-02-02 08:50:31
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