The government will hold a phase 1 auction of Working Areas (WK) this year in the first quarter. In this auction, the government will again offer the production sharing contract / PSC investment cost scheme, in addition to the gross split scheme (gross split), Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif said, both schemes PSC auction will be offered to investors in this 2020 oil and gas block auction.
"We have been able to use two oil and gas contract schemes. But we are currently fixing the cost recovery provisions. We justified the one that didn't quite fit, "he said in Jakarta.
Regarding the oil and gas blocks to be auctioned, Acting Director-General of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto, added that he could not confirm the amount.
The reason is, that his party is still waiting for the results of his study with the Geological Agency and the Work Unit for Upstream Oil and Gas Business Activities (SKK Migas) related to which oil and gas blocks are ready to be auctioned. Oil and gas blocks that were not in demand at last year's auction will also be auctioned again in 2020.
Blogger Agus Purnomo in SKK Migas
"Yes [the oil and gas block] yesterday that was not in demand was auctioned again. Maybe the auction will be in the first quarter, "said Djoko.
Unfortunately, Djoko did not specify which blocks will be re-auctioned. For information, there are eight oil and gas blocks that are not in demand by investors at the three auction stages held in 2019. The details are West Kampar, West Kaimana, Kutai, Bone, East Gebang, West Tanjung I, Belayan I, and Cendrawasih VIII blocks.
Cendrawasih VIII blocks
The West Kampar Block, located on mainland Riau and North Sumatra, has oil and gas resources of 4.3 billion barrels of oil stock. West Kaimana Block The oil resources of this block are 2.44 billion barrels and 4.64 trillion cubic feet of gas.
Furthermore, the East Gebang Block has 6 prospects and 7 leads with an estimated 1.36 trillion cubic feet. This block is also adjacent to production facilities and infrastructure in the Gebang Block and Glagah Kambuna.
West Tanjung I Block has 6 leads with an estimated 150 million barrels of oil resources. This block is adjacent to several blocks that have good facilities and can be tied in with the Karendan and Tanjung Blocks.
The Belayan I Block has a proven basin with an estimated resource of 2.59 billion barrels of oil. In this block, there are at least three types of play, namely structural, stratigraphic, and combination, where 4 prospects and 10 leads are identified.
Belayan I Block is also adjacent to existing production facilities. The Cendrawasih VIII block in Papua is estimated to have gas resources of 3.84 trillion cubic feet and 1.02 billion barrels of oil. This block is located in a remote area and lacks facilities.
Investor Daily, Page-9, Monday, Jan 13, 2020
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