Starting Production In 2027, The Ministry Of Energy And Mineral Resources Approves POD IDD And North Gangs

Minister of Energy and Mineral Resources Arifin Tasrif (Photo: Antara)

JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has approved the revision of the development plan or plan of development (POD) of the Indonesia Deepwater Development (IDD) and North Gang projects.

Later, this project will be worked on by the oil and gas giant from Italy, Eni Sp.A.

Arifin said, if combined with the North gang, the total gas reserves in IDD will amount to 6.7 trillion cubic feet (TCF) and are planned to start operating in 2027.

"The new gas source in the North Gang, which amounts to 6.7 trillion cubic feet or trillion cubic feet, is combined with IDD. We have approved the POD," said Arifin in a Working Meeting with Commission VII DPR RI, quoted Thursday, June 20.

Arifin said that the approval of the field POD was the fastest process that had been carried out since the discovery of another oil and gas field in the Makassar Strait.

"Mulai disetujui PoD-nya berlanjut sampai 2027 ini proses tepat untuk penemuan lapangan baru di Selat Makassar," beber Arifin.

For information, previously the Special Task Force for Oil and Gas Business Activities (SKK Migas) reported that the estimated total investment in the development of deep-sea projects located in Kutai Basin reached US$14.8 billion or equivalent to Rp239.09 trillion.

The total IDD reserves were recorded at 2.67 TCF and 66 million barrels of oil, while the North Gang had inplace gas reserves of 5.3 TCFs.