Have An Investment Value Of 45.09 Billion, Here Are A Series Of National Migas Strategic Projects In Indonesia

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

JAKARTA - The Special Task Force for the Implementation of Upstream Oil and Gas Business Activities (SKK Migas) encourages a number of National Strategic Projects (PSN) in the upstream oil and gas sector.

Head of SKK Migas Dwi Soetjipto said the total investment of the upstream oil and gas PSN was worth 45.09 billion US dollars with a total production capacity of 65,000 bopd for oil and 4256 MMSCFD for gas.

He added that a number of PSNs that have been on stream this year include Jambaran Tiung Biru (JTB) and Tangguh Train 3 operated by British Petroleum (BP).

"Then in this eastern area, BP Tangguh still has a further project, namely UCC, which is expected to produce 476 MMSCFD later," said Dwi at a press conference at the SKK Migas Building, Friday, January 12.

He added that the UCC Project was also accompanied by the potential for Carbon Capture Storage (CCS) with a capacity of 1.8 giga tons (GT) and an investment value of 3.84 billion US dollars.

Meanwhile, the target for the Final Investment Decision (FID) of this project is in the second quarter of 2024. The offline Front End Engineering Design (FEED) stages for this project reached 89 percent, FEED offshore reached 66 percent and AMDAL addendum reached 85 percent.

Next is the Red Smoke Kido (AKM) project operated by tycoons from Malaysia, Genting Kasuri Oil with an estimated gas production of 330 MMSCFD with an investment value of 3.4 billion US dollars and onstream LNG at the end of 2025.

"Currently, the progress of HOA, GSK, PKT and feed updates have been carried out 100 percent. This project is already running in West Papua," added Dwi.

Then the Abadi Masela field project operated by the Inpex, Pertamina and Petronas consortium has an estimated nproduction of 9.5 MTPA with a value of 19.8 billion US dollars.

The revision of POD I has been approved by the Minister of Energy and Mineral Resources on November 28 with an additional scope of Carbon Capture and Storage (CCS).

The project is projected to be on stream in 2029.

"Inpex, whose name is Abadi, the project is eternal, not finished. But Alhamdulillah, several problems that have been in the last few years have 3 aspects that have stopped the project. There is a pandemic, etc. And Alhamdulillah, at the end of last year all good sales of PI Shell then also the entry of CCS, reiew POD have been approved," explained Dwi.

Then the Indonesia Deepwater Development (IDD) Project whose company operator has switched from Chevron to an oil and gas company from Italy, Eni.

Later, said Dwi, Eni will integrate several working areas such as the newly discovered North Gang.

He said that in the future the North Gang project would be proposed to be included in the upstream oil and gas PSN.

"The North Gang's development scheme will be used as one with the IDD in the north, namely Gehem and the North Gang, including the Gendalo-Gendang.

"Later the south will be 700 million cubic meters per day and the north will be 1 billion or 1,000 million cubic meters per day. That is almost the same as Abadi Masela. We will have a large center in Tangguh, Abadi Masela, and also in Bontang," concluded Dwi.