The Ministry Of Energy And Mineral Resources Announces The Winners Of The Auction For WK Akia, Beluga And Bengara I

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) through the Directorate General of Oil and Gas (Migas) announced the winner of the 2023 Phase I Oil and Gas Working Area Offering Auction for Akia, Beluga (Direct Offering), and Bengara I (Direct Offering Without Joint Study).

Director of Upstream Oil and Gas Business Development Noor Arifin Muhammad said the third WK auction had started on April 10, 2023 and ended May 22, 2023.

For WK AKia won by the Fleet Consortium Etan Limited & Pexco Tarakan NV. with a definite commitment of the first 3 years, including 3 G&G studies, Acquisition and reprocessing of 3D 750 km2 seismic data. The total auction value is 7.7 million US dollars with a signature bonus of 500 thousand US dollars.

Then the Beluga WK was won by PT. Medco Energi Linggau with a total value of 8 million US dollars and a signature bonus of 100 thousand US dollars. The exact commitment of the first 3 years includes 2 G&G studies and one exploration well.

Meanwhile, for WK Beluga I won by Texcal Mahato EP FZCO with a definite commitment of the first 3 years is 2 G&G studies and one exploration well. The total auction value is 6.5 million US dollars and a signature bonus of 50 thousand US dollars.

The total amount of investment in the exact commitment of the 3 WK is USD14,200,000 and a signature bonus of USD200,000.

Akia's work area is located in the oceans of North Kalimantan Province with an area of 8,394.05 km2 and a potential for petroleum resources of 2 BBOs and natural gas of 9 TCFs. Meanwhile, the Beluga Working Area, located in the West Natuna Sea, with an area of 8,472.44 km2 and a potential for petroleum resources of 360 MMBOs and natural gas of 50 BCFs.

Meanwhile, the Bengara I Working Area is located in mainland North Kalimantan Province, with an area of 922.17 km2 and a potential for oil and gas resources of 91 MMBOE.

Noor Arifin advised the winner of the auction to carry out his commitments properly.

"Congratulations to the winners, we hope that you can seriously carry out these commitments, so that they can play an active role in meeting domestic energy needs in the future," said Noor Arifin.

Noor Arifin also said that currently there are also Regular Auctions offered, namely the Natuna D-Alpha, WK Panai, and WK Patin Working Areas.

"Indonesia still has enormous oil and gas potential to be explored, to supply our growing energy needs. We invite all potential investors and oil and gas enterprises to participate in the 2023 Phase II WK Migas regular auction," concluded Arifin.