JAKARTA – The Ministry of Energy and Mineral Resources has stipulated decisions related to the management of 4 oil and gas blocks that will end its contract or termination in 2019. The four oil and gas blocks are Jambi Merang Block, Raja / Pendopo, Bula Block, Seram Non Bula Block.
Of the four terminating oil and gas blocks, Jambi Merang is the most potential block with the largest oil / condensate production rate. By 2017, the oil / condensate production rate of this block reaches 3,706 barrels per day and natural gas is about 73 million standard cubic feet per day (MMSCFD). Block whose contract expires on February 9, 2019, has field operations such as Kenawang and Ivory Coast fields located in Bayung Lencir, Musi Banyuasin.
“The Jambi Merang Block has the largest oil and gas production potential among the three oil and gas blocks terminated in 2019 and it has been set to be managed by Pertamina, a good block, 100% will be given to Pertamina, and later on use the oil and gas contract scheme of gross split,” said Agung Pribadi , Head of Communications, Public Information and Cooperation Services, Ministry of Energy and Mineral Resources at the weekend.
Profit sharing of oil and gas gross split of Jambi Merang Block for petroleum is for petroleum 53.5% of Government and 46.5% Contractor. While for natural gas 48.5% of the Government and 51.5% of the Contractor. The Contractor’s portion includes the operating costs incurred by the Contractor.
The investment value of the first 5 years work commitment for Jambi Merang Block is also the largest among the other 3 blocks, which is US $ 239.3 million.
“The investment commitment of Jambi Merang block for 5 years reaches US $ 239 million, that is a big proof of Pertamina’s commitment to oil and gas exploration so that Indonesia’s oil and gas reserves can be improved,” Agung added.
For information on oil and gas production levels of other 2019 2014 oil and gas blocks in 2017 namely Raja / Pendopo Block (oil 571 barrels per day and gas 0.17 mmscfd), Non Seram Bula Block (oil of 1.972 barrels per day and gas 1.48 mmscfd ), and Bula Block (oil of 270 barrels per day).
As is known, in addition to getting the Jambi Merang block, Pertamina also get the King / Pendopo block. So, from 4 blocks of oil and gas termination in 2019, Pertamina get 2 blocks. While the other 2 blocks are Bula, and Seram Non Bula, Pertamina does not apply for the management of both blocks. (adm)
