Minister Of Energy And Mineral Resources: 6 New Oil And Gas Fields Ready To Boost Oil Lifting

Minister of Energy and Mineral Resources Arifin Tasrif gave a statement at the Office of the Directorate General of Oil and Gas (Migas), Jakarta, Friday (2/8/2024). ANTARA/Putu Indah Savitri

JAKARTA - Minister of Energy and Mineral Resources Arifin Tasrif announced plans for oil production from six new fields that are projected to increase national oil lifting with a capacity of approximately 100,000 barrels per day (BOPD). "In the relatively short term, there are 6 prospects that hopefully can start producing everything in 2028. The amount is approximately 100,000 barrels," said Arifin when confirmed by ANTARA from Jakarta, Sunday, August 4. Arifin said that the Ministry of Energy and Mineral Resources continues to intensify various efforts to increase national oil production. This step is expected to have a positive impact on national energy security and reduce dependence on oil imports. Arifin said the six new fields are projected to start producing in the 2024-2027 period. This plan, he said, is expected to provide a significant boost for national oil production. The six new fields include Forel (10,000 BOPD) with production estimates in the fourth quarter of 2024; Ande Ande Lumut (20,000 BOPD), production estimates in the first quarter of 2028; Seahorse Sea Lion (20,313 BOPD), production estimates in the fourth quarter of 2026; Hidayah (2,996 BOPD), production estimates in the first quarter of 2027; BUIC (19,206 BOPD), production estimates in the third quarter of 2024; and OO-OX (25,276 BOPD), production estimates in the first quarter of 2026. Arifin revealed that international sanctions imposed on Russia are one of the challenges in developing the new field. The Sea Lion Sea Field Seahorse, he said, was one of the affected projects, causing the estimated time on stream to be pushed back until the fourth quarter of 2026. In addition to developing new fields, the Ministry of Energy and Mineral Resources also focuses on increasing the recovery rate of existing wells. "In addition to these 6, we are also working on increasing recovery from existing wells. So, in the past, our recovery was usually only 30 percent, now we are trying to ask Pertamina to increase it to 50 percent," said Arifin. In order to increase oil and gas production, Arifin revealed that the government plans to reactivate 1,000 to 1,500 inactive wells every year as part of a short-term strategy.

"We ask Pertamina to be able to seek idle well, wells that are still in the process of being able to be reworked. This is in our efforts in the short term," said Arifin.