Alhamdulillah, Indonesia found giant oil and gas field in Warin, Papua, at 27 billion barrel of oil and 47 trillion of cubic feet of gas

[Indos]

Currently it is explored by our state owned energy company, PT Pertamina

Masela Lewat! Potensi Minyak di Papua Ini 27 Miliar Barel

Indonesia menyimpan potensi minyak di wilayah Papua mencapai 27 miliar barel

www.cnbcindonesia.com

As is known, the giant oil and gas potential in Warim is still hampered by environmental problems, this is because the area is in the Lorentz National Park.

Luhut said that his party had coordinated with the Ministry of Environment and Forestry (KLHK). With this coordination, the government agreed to continue exploration in Warim, Papua with PT Pertamina (Persero), by drilling at an angle.

"We are starting (discussions with the Ministry of Environment and Forestry), Pertamina has followed up," "Pertamina is still alone. Warim does have a few problems, because it is a protected forest, but maybe they want to drill at an angle," said Luhut.

 

[Indos]

Apart from Warim, the Government is also focusing on developing oil and gas basins in Buton, Warin, Aru and Timor which are located in the eastern part of Indonesia. Currently, Indonesia has 70 basins that have not been explored.

Masela Lewat! Potensi Minyak di Papua Ini 27 Miliar Barel

Indonesia menyimpan potensi minyak di wilayah Papua mencapai 27 miliar barel

www.cnbcindonesia.com

 

[Kuru]

Good news. Congratulations to Indonesia.

Keep this news a secret from CCP heretics. Otherwise they will come up with a 2000 year old map claiming that this territory belongs to them as per the new Nine Dash Line.

All the best!

 

[prashantazazel]

Congrats

Freedom?

 

[Indos]

Ongoing big project is in Masela, also Eastern Indonesian region. Warin Block is way bigger than Masela block but Warin block is likely with much lower investment cost since unlike in Masela, Warin block is located in the land.

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Finally Shell Gives Up, Letting Go of the Masela Block Shares​

Annisa ayu artanti • 14 June 2023 22:05

Jakarta: Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif revealed that PT Pertamina and an oil and gas company from Malaysia, Petroliam Nasional Berhad or known as Petronas, will soon acquire participating interest (PI) in 35 percent of the Masela Block from the hands of Shell.

Pertamina's negotiations with Shell are said to have almost reached an agreement. The state-owned company is estimated to have to spend at least USD 1.4 billion or around IDR 20 trillion (exchange rate of IDR 14,835) to take the 35 percent stake.

"Alhamdulillah, Masela has found a meeting point, there is a way out. Shell wants to release its shares to Pertamina, and possibly Petronas as well. It will be executed at the end of this month," said Arifin in a working meeting with Commission VII reported by Media Indonesia, Wednesday, June 14, 2023.

Pertamina and Petronas together with an oil and gas company from Japan, Inpex Masela Ltd. will manage a liquefied natural gas (LNG) refinery project located in the Tanimbar Islands district, Maluku with an investment value of USD 19.8 billion or around IDR 294 trillion.

"We want to ensure that this project can be supported by parties who have adequate competence. For this reason, we are looking at the possibility of participation from other parties who do have the competence to be able to support this project," he said.

The production capacity of the Masela Block is estimated to be around the equivalent of 10.5 million tons per annum/mtpa, or 9.5 million tons for LNG per year and piped gas of 150 million cubic feet per day (mmscfd).

The government, continued Arifin, has given approval for the development plan (Plan of Development/PoD) for the Masela Block to Inpex from 2027-2055.

From that period, natural gas production will produce 16.38 trillion standard cubic feet (TSCF). (Kevin Schreiber)

Finally Shell Gives Up, Letting Go of the Masela Block Shares

Pertamina and Petronas, will soon acquire participating interest (PI) in 35 percent of the Masela Block from the hands of shell.

www.medcom.id

 

[Indos]

I will try to update this Warin development, surely it is still in the very early stage of exploration.

Other big found in Western of Indonesia and extremely important for domestic industry in Sumatra and Java island. Sumatra and Java island have already had good gas pipe line connecting the two most populated Islands in Indonesia where the two Islands are also contributing the biggest regional GDP for our nation.

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Harbour Energy revs up $110 million drilling campaign as sanctions slow Indonesian final investment decision​

Upcoming drilling aiming to demonstrate commercial viability of development on Andaman II block

Advancing in Indonesia: Harbour Energy chief executive Linda Cook. Photo: HARBOUR ENERGY


Updated
1 September 2023 9:21 GMT
By Amanda Battersby


Harbour Energy is gearing up for an exploration drilling campaign in the Andaman Sea offshore Indonesia — targeting trillions of cubic feet of gas reserves.

It aims to demonstrate the commercial viability of a development on the Andaman II production sharing contract and to test the extension of the play into Mubadala’s contiguous South Andaman block.



Harbour Energy getting its ducks in a row for Indonesia wildcatting
Read more

First out of the traps for this drilling campaign, which has been delayed by the late arrival of Seadrill’s drillship the West Capella, will target the Layaran prospect on the South Andaman block.

Harbour Energy revs up $110 million drilling campaign as sanctions slow Indonesian final investment decision | Upstream

Upcoming drilling aiming to demonstrate commercial viability of development on Andaman II block

www.upstreamonline.com

 

[HRK]

Congratulations .....

 

[Hold the door]

Wow very big news
Congratulations

 

[aziqbal]

inshallah hope it can be used for the building of the nation

 

[Indos]

It is still smaller compared to Iran/US/Saudi/Russia oil and gas reserves, but it is important to fulfil our future domestic needs and keep our domestic oil and gas industry alive for long. Masela block alone, for example, will be able to generate 10.000 jobs based on Pertamina estimation.

The strategic thing behind this founding is to keep our industry competitiveness for the future as currently Indonesia power plant alhamdulillah use our own coal and gas where the price is more manageable as gov can impose maximum price or export restriction for our energy if necessary. This then should place Indonesia as the interesting place to invest as in term of energy the investors will get better assurance in term of its availability and the long term cost estimation.

With what happen in Ukraine and with stronger relationship between Saudi and Russia in managing oil supply, every analists will understand that any nation that can secure its own energy needs will likely become more important geopolitically as it will add its resilency in the mids of any World turmoil and also will likely adds its economic competitiveness.

For information we have deficit in oil as we produce around 614.000 barrel per day while the consumtion is around 1.4 million barrel per day. Current proven oil reserve is at 5 billion barrel of oil, it will be finished in around next 10 - 11 years with current rate of production. Beside having lot of car and motor cycles ownership, we also have large petrochemical industry that is growing and keep adding the capacity.

Gas reserves is also getting more important nowadays as it is not easy to finance any coal power plant any more under current trend toward green economy. Future power plants should use eather gas or renewable which are the source of energy that is bankable. We can still build coal based power plant but should get it from our domestic financing.

Indonesia current gas reserve is the same with Warin gas potency where 60 % is already used domestically and the rest is exported. We will need more gas in the future. With Warin block become operational inshaAllah, so we can possibly double our gas reserves if the Warin reserve potency becomes proven one inshaAllah.

 

[Indos]

For information we have deficit in oil as we produce around 614, 000 barrel per day while the consumtion is around 1.4 million barrel per day. Current proven oil reserve is at 5 billion barrel of oil, it will be finished in around next 10 - 11 years with current rate of production. Beside having lot of car and motor cycles ownership, we also have large petrochemical industry that is growing and keep adding the capacity.

Majority of oil production is made by our oil and gas company, PT Pertamina.

-------------------------------------

Until August 2023, PHE recorded total production year to date (YTD) of 1.04 million barrels of oil equivalent per day. This figure is a combination of 570 thousand barrels of oil per day and 2,760 million cubic feet of gas per day.This resulted from the completion of drilling of 502 development wells, 511 work overs, and 21,764 well service well interventions.

Produksi PHE Tembus 1,04 Juta Barel Minyak Ekuivalen Per Hari

Produksi migas PT Pertamina Hulu Energi (PHE) mengalami peningkatan dalam beberapa tahun terakhir.

finance.detik.com

Indonesia Crude Oil Production

Crude Oil Production in Indonesia remained unchanged at 582 BBL/D/1K in July. This page provides the latest reported value for - Indonesia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and...

tradingeconomics.com

PS: PHE is PT Pertamina Hulu Energy (PT Pertamina subsidiary in upstreaming oil and gas industry). Some of the figures comes from foreign oil fields in Iraq and other places in Middle East operated by PHE.

 

[Indos]

It is still smaller compared to Iran/US/Saudi/Russia oil and gas reserves, but it is important to fulfil our future domestic needs and keep our domestic oil and gas industry alive for long. Masela block alone, for example, will be able to generate 10.000 jobs based on Pertamina estimation.

https://en.irna.ir/news/85008991/Iran-ranks-2nd-3rd-in-gas-oil-reserves-in-world

 

[Indos]

Alhamdulillah, third biggest finding in the world for 2023

-----------------------------------------

In North Ganal, the world's third largest gas reserves have been discovered

​

Writer
Prismono

2 Oktober 2023

Abu Dhabi, Petrominer– Head of SKK Migas, Dwi Soetjipto, expressed his appreciation to Eni for the discovery of gas reserves in the North Ganal Working Area, East Kalimantan. According to initial estimates, this significant discovery (giant discovery) reached 5 trillion cubic feet (tcf) of Gas in Place.

This encouraging news was conveyed by the Head of Regional and Far East Eni when he met Dwi Soetjipto at the ADIPEC event in Abu Dhabi, Sunday (1/10).

With an initial estimate of discovered resources of +/- 609 MMBOE (recoverable), this discovery makes the discovery in the Ganal North-1 well one of the top three exploration discoveries in the world in 2023. According to Dwi, with the initial estimate of gas discovery in Place being 5 Tcf, this discovery will be one of the giant discoveries.

Of course, this will significantly increase gas reserves to support a sustainable increase in national oil and gas production and achieve the 2030 target, namely oil production of 1 million barrels per day (BOPD) and 12 billion cubic feet of gas per day (BSCFD).

It is believed that the giant discovery will encourage more massive exploration investment in the future. Moreover, the national oil and gas potential 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 an international oil company (IOC) will encourage more IOCs to enter Indonesia. "This is certainly the result of one of the Government's efforts to increase the competitiveness of the national upstream oil and gas industry," said Dwi.

Furthermore, he said that SKK Migas would carry out intensive coordination with Eni for the next stages so that this giant discovery could be immediately monetized. The giant discovery gas discovery will be encouraged to be produced immediately so that it can increase gas supplies to support development, including gas downstreaming which is currently being encouraged by the Government. This is also supported by the gas infrastructure that is already available in East Kalimantan so it is hoped that it can be developed quickly and efficiently.

https://petrominer.com/di-north-ganal-ada-temuan-cadangan-gas-terbesar-ketiga-dunia/

 

[Indos]

Alhamdulillah, big founding and located in matured gas production areas and facilities.

Eni Gas field in East Kalimantan = 10 TCF and close to PT Pertamina LNG production facility

Eni Made 'Huge' Gas Discovery in Indonesia, CEO Says​

Eni CEO discusses its new gas discovery in Indonesia​

PT Pertamina LNG production in Bontang, East Kalimantan

 

[Haldorss]

EV producers will be cursing.