SKK Migas Offers Oil And Gas Blocks In Bali And Eastern Indonesia To Chevron

JAKARTA - Head of SKK Migas Djoko Siswanto plans to offer oil and gas blocks located in the Bali and eastern Indonesia regions to Chevron, an energy company from the United States.

"We will offer potential in the Bali area, for example. Then in other areas, in the east where the potential is quite large," said Djoko on the sidelines of the IPA Convention & Exhibition, Tangerang, Banten, quoted by Antara, Wednesday, May 21.

Djoko explained that the great potential he intended was to have a reserve of approximately 15 TCFs, or higher.

The offer responds to Chevron's interest in re-investing in Indonesia's upstream oil and gas industry.

Djoko said that Chevron came to Indonesia to look for giant oil and gas blocks.

"They want to look for big ones so that all of you, the potential is big, the investment is big, it can also be big," said Djoko.

Regarding data on oil and gas blocks from the government, Djoko said that Chevron had just held an initial discussion and would be studied further.

Later, when Chevron has entered Indonesia, they will focus on exploring.

They are still looking for, evaluating, seeing which Indonesia can provide, considerable potentials. Because this (exploration) is 'high risk'," he said.

Previously, Djoko said that there were 25 oil and gas companies, including Shell, Chevron, to TotalEnergies, who were interested in exploring the potential of Indonesia's upstream oil and gas industry.

In order to facilitate oil and gas companies interested in the upstream industry, Djoko said the government had provided better upstream oil and gas industry data, fiscal terms or fiscal provisions for upstream oil and gas that were more flexible, as well as ease of licensing supported by the government.

In addition, Indonesia has also increased data connectivity and has rules regarding data disclosure.

The interest of various oil and gas companies is in line with the Indonesian government which offers 60 new oil and gas blocks to be explored from 2025 to 2027.

This step was taken in order to increase oil production capacity to meet domestic needs.