The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) urged Chevron Indonesia to immediately ensure the continuation of the .
SKK Migas Head Dwi Soetjipto revealed that his party was still waiting for a report from Chevron regarding the follow up of the IDD Project. He said he had even pursued an oil and gas company from the United States to rush to make a decision whether to continue this project or not.
"So our position is waiting for a report from Chevron. Of course, this should not be protracted, and we have urged Chevron, "he said.
It understands that after the Covid-19 pandemic and low oil prices, many planned activities must be reviewed by oil and gas companies. The current condition has an impact on all major oil and gas projects in the world. As a result, Chevron's follow-up on the IDD Project has been hampered.
However, it urged Chevron to immediately report its plans related to the IDD Project. Moreover, Chevron is not the only oil and gas company interested in working on the deep-sea gas project in the Makassar Strait.
"Actually there are other parties who are also interested in this matter [IDD Project]. But of course, we are waiting for the official report from Chevron first, "said Dwi.
Referring to SKK Migas data, as of last June, the IDD Project is still in the process of evaluating the approval of the revised development plan (POD). In addition, the project is also still in the process of evaluating the proposed production sharing contract (PSC) for the Rapak Oil and Gas Block and Ganal Oil and Gas Block.
The IDD project combines two oil and gas fields, namely Gendalo Field, Ganal Block, and Gehem, Rapak Block. Still based on SKK Migas data, the project is targeted to reach peak gas production of 844 million cubic feet per day / MMscfd and 27 thousand barrels of oil per day (BPD). The US $ 6.98 billion projects are planned to start operating in the fourth quarter of 2025.
In fact, the Rapak Block contract will expire in 2027, while the Ganal Block in 2028. In addition, Deputy Head of SKK Migas Fatar Yani Abdurrahman had revealed, there was a change in the design of the IDD project, namely the production platform was moved to shallow water. Therefore, POD changes are needed.
In the IDD Project, Chevron is the operator and majority shareholder of 63%. Chevron is working on this deep-sea oil and gas project along with other joint venture partners, namely Eni, Tip Top, PT Pertamina Hulu Energi (PHE), and Muara Bakau partners.
Investor Daily, Page-9, Saturday, July 18, 2020
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