SKK Migas Approves Oil and Gas Field Development Plan Worth IDR 3.7 T

Jakarta –

SKK Migas gave approval to the proposed Plan of Development (POD) or Steamflood Enhance Oil Recovery (EOR) development plan for Rantaubais Field Phase-1 managed by PT Pertamina Hulu Rokan (PHR) with an investment of IDR 3.7 trillion. The POD approval makes Rantaubais the second oil field in Indonesia to implement EOR since 1995.

“This POD approval is important considering that Rantaubais, which is located in Riau Province, is the second oil field in Indonesia to implement the Enhanced Oil Recovery (EOR) method on a commercial scale with steam injection technology (steamflood) after almost three decades since the Duri Field did so. in 1995,” explained Deputy for Exploration, Development and Management of SKK Migas Working Areas Benny Lubiantara in his statement, Tuesday (5/12/2023).

Benny added that the approval to develop the Rantaubais Field using the Phase-1 Steamflood EOR method has deep meaning for Pertamina Hulu Rokan (PHR).

“This is the first commercial EOR project that is completely produced by PHR, considering that the Duri Steamflood project was carried out by the previous operator (Caltex/Chevron)”, he said.

Regarding the potential for additional oil reserves from the Rantaubais field development phase-1, Benny said it would reach 11 million barrels, with peak production estimated at 5,500 barrels of oil per day (BOPD) or more than double the previous production level which was around 2,000 BOPD.

The total investment in this development project will reach around IDR 3.7 trillion, which includes drilling wells, building hot steam production facilities (steam stations), and upgrading production facilities. Benny said the resulting economic impact was also significant, with estimated state revenue reaching IDR 4.8 trillion.

“This project not only increases oil production but also brings great economic benefits to Indonesia,” he added.

Furthermore, Benny said, approval of this project was also an important achievement in realizing one of EOR’s Definite Work Commitments (KKP) in the first 5 year period after taking over the previous operator. He added that at the end of this year, the government through SKK Migas will immediately complete the approval process for another EOR project, namely Chemical Enhanced Oil Recovery (CEOR) Phase -1 in the Minas Field.

This project is also part of fulfilling the KKP in the Rokan Working Area. This project is the initial stage (prove of expandability) of CEOR development in order to move towards full field scale in the Minas Field which has been identified as having a total potential for additional oil recovery of up to 500 million barrels during full scale development later.

(acd/that)