Premier Oil Will Be Operated, The Government Agrees To The Tuna Field POD

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

The Ministry of Energy and Mineral Resources (ESDM) has approved the first plant of development (POD) of Tuna Field in the working area (WK) Tuna.

This WK will later be operated by a cooperation contract contractor (KKKS) from England, Premier Oil Tuna BV.

Head of SKK Migas Dwi Soetjipto said that the approval of the First POD of the Tuna Field shows that upstream oil and gas investment competitiveness is still promising and is able to attract world investors.

"Although the location of the Tuna Field has a high risk, with the support of incentives and flexibility provided by the Government, it can increase the economics of the tuna field so that the first POD of the Tuna Field can be realized," he said in an official statement quoted on Tuesday, January 3.

Dwi explained that the estimated investment cost for the development of the Cash Field consisting of investment (outside the Sunk cost) is estimated at USD 1.050 billion, investment related to operating costs up to the economic limit of USD 2.020 billion and the cost of amendment and site restoration (ASR) of USD 147.59 million.

To encourage the economy of Tuna Field which has a high risk, he continued, the government also provides several incentives.

With an estimated production period of up to 2035, the government will get a gross revenue of US$1.24 billion or equivalent to Rp18.4 trillion.

Meanwhile, gross revenue contractors amounted to USD 773 million or approximately IDR 11.4 trillion at a cost recovery cost of USD 3.315 billion.

Investasi Lapangan Tuna sangat besar dari sejak proyek hingga operasional sampai ekonomic limit dengan nilai investasi mencapai 3,070 miliar dolar AS atau setara dengan Rp45,4 triliun sehingga akan turut memperkuat dan menggerakkan perekonomian nasional. Dengan TKDN upstream oil and gas yang saat ini mencapai 63 persen, maka industri nasional di pusat dan daerah akan mendapatkan manfaat besar dari investasi tersebut, beber Dwi.

In terms of state revenue, said Dwi, it is estimated that the government will receive an income of up to Rp. 18.4 trillion or much greater than the potential for contractor revenue of Rp. 11.4 trillion.

"This shows that giving incentives to improve the economy of the Tuna Field still puts the interests of the state in a high position. That the state must get the greatest benefits as mandated by the 1945 Constitution Article 33," concluded Dwi.