Dismissing The Assumption Of Sunset Oil And Gas Sector, SKK Migas Shows Off A Number Of Domestic Infrastructure Projects

Illustration. (Photo: Doc. Antara)

JAKARTA - The Special Task Force for Upstream oil and gas business activities (SKK Migas) emphasized that the future of Indonesia's upstream oil and gas industry is still bright.

Deputy Head of SKK Migas Nanang Abdul Manaf said the bright future of the upstream oil and gas industry could be seen from the many projects that are currently being worked on and will get the results in the next few years.

"For this year until September there are five on-stream projects out of a total of 11 projects being worked on with a total investment of US$709 million," Nanang told the media, Saturday, September 30.

Nanang detailed that most of the projects were gas projects with six projects with a total estimated additional production of 454 million cubic feet per day (MMscfd). Then there are five oil projects with a total production capacity of 19.1 thousand barrels per day (BPH).

Furthermore, there are six strategic upstream oil and gas projects that are also being worked on. The first is that Mako is done bymin Asia, then there is Hidayah which is being worked on by Petronas Carigali Madura II Ltd, the deep sea oil and gas project or Indonesia Deepwater Developer (IDD) which is now officially being continued by ENI managers.

The next project is Abadi Masela gas. Then there is Tangguh train 3 and the Red Smoke Kido Project, which is done by Genting Oil.

"These six projects will be a mainstay in boosting investment and oil and gas production in the future," added Nanang.

Not only that, Nanang continued, in LTP there is also a projected additional production of Enhanced Oil Recovery (EOR) continued production activities.

There are 12 EOR projects that are being worked on with a total estimated additional reserves of 950 million barrels of oil equivalent and estimated investment costs of US$4.61 billion.

With so many jobs waiting, according to Nanang, Indonesia's oil and gas industry will continue to grow and the results will be felt in the next few years.

"This shows the upstream oil and gas growing (growing) industry, many say that upstream oil and gas has set a decline and so on, don't look at it now but what the demand for the future will be," concluded Nanang.