National Number Two, Medco E&P Grissik Allocation 85 Percent Of Gas For Domestic Market

JAKARTA - Medco E&P Grissik Limited (Medco E&P), Cooperation Contract Contractor (KKKS) who operates Corridor Block, continues to be committed to maintaining energy security by developing new wells in Corridor Block, one of which is Suban 27 Well.

It is hoped that with this development, gas production from the Corridor Block can achieve the production target set by the government.

In the State Budget for Fiscal Year 2024, the Government has agreed on a national crude oil lifting target of 635,000 BOPD and a national natural gas lifting target of 1,033,000 BOEPD.

Senior VP Corridor Asset Medco E&P Tri Laksono said that over the past 2 years, Medco E&P has met the production target set by the government. In fact, in 2023, Corridor's gas production achievement exceeded the APBN target.

"We are trying to maintain gas production in the Corridor Block to be able to meet the natural gas production target from the government," he said in a statement to the media, Thursday, March 7.

Corridor Block has one oil field (Suban Baru) and seven gas fields (Suban, Rowing, Sumpal, Gelam, Letang, Central & Rawa) which produce in South Sumatra and are equipped with two main gas processing facilities, namely the Suban Gas Refinery and Grissik Central Gas Refinery.

At the end of 2023, PSC Blok Corridor has signed a natural gas purchase agreement with the State Gas Company (PGN). This agreement is the commitment of the government, KKKS, and PGN in serving industry and retail along the islands of Sumatra, West Java, and the Riau Islands.

Tri said, until 2023, the allocation of natural gas for skitar was 85 percent specifically for the domestic market, while the rest was as large as for foreign markets.

"We hope that in the future, the Corridor Block, which is the second largest natural gas supplier in the country, can continue to contribute during the energy transition period in maintaining energy resilience," he said.