Italian Oil And Gas Giants Find Gas Reserves At WK North Ganal, East Kalimantan

JAKARTA - The Italian oil and gas giant, Eni, revealed that it has found significant amounts of gas reserves in the North Ganal Working Area of East Kalimantan with an initial estimate of Gas in Place of 5 trillion cubic feet (tcf).

With an initial estimate of revealed resources of approximately 609 MMBOE (recoverable), this discovery made the findings in the North 1 Gang well one of the top 3 world exploration findings in 2023.

Head of SKK Migas Dwi Soetjipto said, with the initial estimate of the discovery of gas in Place 5 Tcf, it will be one of the giant disclosures that will significantly increase gas reserves to support the sustainable increase in national oil and gas production.

"This finding can boost the 2030 target, namely oil production of 1 million barrels per day (BOPD) of gas 12 billion cubic feet per day (BSCFD)," he said in a statement to the media, Monday, October 2.

Dwi added that the discovery of Giant Discovery is believed to be able to further encourage more massive exploration investment in the future considering the potential for national oil and gas is still promising because of the 128 basins, there are still 68 basins that have not been drilled.

"We hope that the discovery of gas reserves in North Ganal by one of the international oil companies (IOC) will encourage more IOCs to enter Indonesia. This is of course the fruit of one of the Government's efforts to increase the competitiveness of the national upstream oil and gas industry," continued Dwi.

He added that SKK Migas will carry out intensive coordination with Eni for further stages so that the giant's discovery can be monetized immediately.

Later, the discovery of the gas giant disclosure will be encouraged to be produced immediately so that it can increase gas supply to support development, including downstream gas, which is currently being pushed by the Government.

"This is also supported by gas infrastructure that is already available in East Kalimantan so that it is hoped that it can be developed quickly and efficiently," concluded Dwi.