Government Offers 3 Oil And Gas WKs In Papua

Director of Upstream Oil and Gas Business Development Noor Arifin Muhammad. (Photo: Maria Trisnawati/VOI)

NUSA DUA - The Ministry of Energy and Mineral Resources (ESDM) offers three working areas (WK) located in eastern Indonesia, Papua.

Director of Upstream Oil and Gas Business Development Noor Arifin Muhammad said the government continues to be committed to supporting upstream oil and gas activities by making improvements in oil and gas business management to attract upstream oil and gas investors in Indonesia.

"Among them, the government offers an increase in sharing split, where the after-tax split for contractors reaches 50 percent for WKs that have very high risk, and contractors have flexibility in choosing Cost Recovery or PSC Gross Split contract schemes," said Noor at The International Convention on Indonesian Upstream Oil and Gas (ICIOG) 2023 at the Bali Nusa Dua Convention Center, quoted Thursday, September 21.

The 3 WKs being marketed include, first, Akimeugah I WK which is located in Mainland South Papua and Mountainous Papua with an area of ​​10,791 km2.

The government offers a definite commitment of 3 years, G&G studies as well as 2D/3D seismic acquisition and processing or drilling of 1 exploration well.

Second, WK Akimeugah II is located in Mainland South Papua and Papua Mountains with an area of ​​12,987 km2.

The government offers a definite commitment of 3 years, G&G studies as well as 2D/3D seismic acquisition and processing or drilling of 1 exploration well.

Third, the Bobara WK is located off the coast of West Papua with an area of ​​8,444 km2.

The minimum definite commitment offered is 3 years, G&G Study, 3D Seismic acquisition and processing 750 km.

Through this opportunity, he said, the Government invites Business Entities and Permanent Establishments operating in the upstream oil and gas industry that have financial and technical capabilities, are able to fulfill the minimum requirements for a Firm Commitment, fulfill the basic terms and conditions of the Working Area Auction, and have good performance. and a good track record to be able to participate in the Oil and Gas Working Area Auction Phase III in 2023.

"We want to convey that Indonesia still has abundant oil and gas resource potential to meet national energy needs. Investment in the oil and gas business is still very attractive. Therefore, we invite all of you to come and invest in Indonesia," concluded Noor.