SKK Migas Reports Investment Realization Quarter III Capai 7.7 Billion US Dollars

Head of SKK Migas Dwi Soetjipto. (Photo: Doc. Antara)

JAKARTA - The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) noted that until the third quarter of 2022, investment realization reached 7.7 billion US dollars from the target of 13.2 billion US dollars.

Head of SKK Migas Dwi Soetjipto said this amount was the largest upstream oil and gas investment in the last 7 (seven) years since 2016.

"With the implementation of development well drilling activities, there will be a significant additional investment until the end of the year," he said at a press conference in the third quarter of 2022 in Jakarta, Monday, October 17.

Meanwhile, he continued, the drilling activities of the graph development well continued to increase in the third quarter.

This encourages the addition of the development well drilling target from the 790 wells set on the work, program & budget (WPnB) to 801 wells, which will also encourage the achievement of the investment target of upstream oil and gas in 2022.

"Until the third quarter of 2022, the main achievement of upstream oil and gas activity recorded an encouraging performance," continued Dwi.

Meanwhile, for exploration well drilling activities, Dwi reported that it had reached 21 wells or matched the achievement of the same quarter last year.

For development well drilling activities until the third quarter of 2022, it has reached 545 wells or around 171 percent compared to the achievement in the third quarter of 2021 and reached 116 percent when compared to the achievement until the end of 2021.

As for the workover, it has reached 495 wells or about 116 percent above last year's third quarter and around 87 percent of the 2022 target.

Meanwhile, well service activities have reached 22,511 wells or about 134 percent compared to the same quarter last year and around 99 percent of the 2022 target.

Furthermore, Dwi conveyed that massive development well drilling had an impact on additional production, so it was very helpful in efforts to keep oil and gas production and lifting optimal amid various obstacles such as unplanned shutdown, facilities constraints at several KKKS which caused oil and gas production losses, in addition to natural decreases.

Until the third quarter of oil production reached 613,000 barrels of oil per day (BOPD) while oil lifting reached 610 BOPD.

For gas salur sebesar 5,353 juta kaki kubk per hari (MMSCFD), dengan total lifting oilgas mencapai sekitar 1,562 juta barrel setara minyak per hari (BOEPD) atau sekitar 89,8 persen dari target 2022.