Kementerian ESDM Umumkan Bumi Pratiwi Hulu Energi Sebagai Pemenang Lelang WK Bawean

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) announced PT Bumi Pratiwi Hulu Energi as the winner of the Bawean Oil and Gas Live Offering Auction (WK/ Blok), off the coast of East Java.

Director General of Oil and Gas Tutuka Ariadji said the decision was taken based on the results of the assessment of the Participation Document from the auction participants, then it had been stipulated in the Decree of the Minister of Energy and Mineral Resources.

Thus, as the winner of the auction, PT Bumi Pratiwi Hulu Energi has a definite commitment of five years of USD 22.39 million and a signature bonus of USD 300 thousand.

"The exact commitment activity in the first five years is the commitment to exploitation in the form of improving production facilities, drilling two workover wells and one development well, as well as a GGRE study. Meanwhile, exploration commitments in the form of acquisition and processing 3D seismic 300 km2 and geological and geophysics studies (G&G)," Tutuka said at a press conference in Jakarta, Tuesday, September 4.

PT Bumi Pratiwi Hulu Energi is also committed to being able to start production in the first year of the contract.

"The government hopes that with the announcement of this winner, Bawean's Working Area can immediately return to contribute in maintaining national oil and gas production," said Tutuka.

In addition to the announcement of the Working Area Winner, currently the 2022 Migas Working Area Regular Auction is still running consisting of 3 Working Areas, namely Arakundo, Bengara I and South Makassar.

The access schedule for the Auction Document for Regular Auctions is still open until November 15, 2022, while the Revenue of Participation Documents until November 17, 2022.

WK Bawean is located off the coast of East Java with an area of 2,756.07 km2. The oil and gas block is estimated to have the potential for oil natural resources of around 100 million barrels oil (MMBO) and gas of 680 cubic feet (BCF).