JAKARTA - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif revealed a number of steps by the government in producing domestic oil and gas in order to achieve the target of 1 million barrels of oil per day and 12 TCF of gas by 2030.
Just so you know, Arifin was previously summoned to hold a limited meeting with the head of state regarding domestic oil and gas production.
Arifin admitted that currently the condition of domestic oil and gas continues to decline from the target set but continues to be sought to be contained in the rate of decline. This is because currently, Indonesia manages the oil fields that are old and continue to strive to find new oil fields.
Unlike oil, said Arifin, the observed gas continues to increase over time and many big fish findings are confirmed to be a source of Indonesia's future energy transition.
"So with the new findings, the prospects in the Andaman (block), South Andaman, and also in the Makassar Strait, we will use this much in the country to become our mainstay to be able to support the energy transition," said Arifin in a joint discussion with the media at the Directorate General of Oil and Gas Building, Friday 2 August.
Arifin further explained a number of steps taken by the government which were carried out in 3 stages, namely the short term, medium term and long term.
He detailed, in the short term, the step taken is to increase the production of existing assets with efforts to increase oil production through Enhanced Oil Recovery (EOR). In addition, drilling development wells is also carried out for more than 1000 wells each year, reactivating 1.000 to 1,500 wells per tahum and accelerating the execution of CEOR Minas Area A which has a potential of 2 million barrels of oil.
Meanwhile, for the medium term, Arifin said that he would encourage the transformation of R to P coupled with full-scale EOR exploration. Another step taken is to encourage investment in China's upstream oil and gas to Indonesia, including the use of technology from China that can increase oil production.
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Finally, in the long term, the government will explore new domestic oil and gas sources coupled with efforts to increase production with EOR and the development of non-conventional oil and gas.
On the other hand, said Arifin, there is policy support carried out by the government so that oil and gas operations can be more attractive. This is intended so that global oil and gas giant companies such as ExxonMobil, ENI, BP, Inpex Masela are increasingly interested in conducting oil and gas operations in Indonesia.
One of them is by simplifying the additional component split to make it more implementative, from 13 components to only 5 components.
"Then additional splits for contractors are more attractive, it can reach 95 percent, including for non-conventional oil and gas. The status is in process with the Cabinet Secretary to be submitted to the President and waiting for the Ministry of Finance's response," Arifin concluded.
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