Pertamina EP Asset 4, a subsidiary of PT Pertamina (Persero), strives to meet national energy needs by continuing to carry out exploration activities to maintain energy availability for the next decades.
"We at Pertamina EP remain optimistic about Indonesia's energy availability, and we are committed to continuing to explore, one of which is currently being prepared is the Kasuari Emas Exploration Well in the Bojonegoro Regency area," said Deddy Syam, General Manager of PT Pertamina EP Asset 4.
Deddy also added that this exploration activity resulted in the discovery of large reserves so that it could extend the life of fossil energy in Indonesia.
"With exploration activities, we hope Pertamina will sustain and continue to operate to meet Indonesia's energy needs," said Deddy.
Supporting Pertamina EP's activities, Nanang Abdul Manaf, SKK Migas Supervisory Commission expert explained that exploration is important because every barrel of oil production starts from one new Held Wildcat Well.
"Without exploration, don't expect new oil and gas reserves," said Abdul Manaf.
He said further that the exploration could stimulate investors to come. Because Indonesia's oil and gas potential is still very large.
"Indonesia has 128 oil and gas potential basins. A total of 20 basins are already in production, 27 basins have been drilled with exploration discoveries, then 13 basins have been drilled without discoveries and the remaining 68 basins have not been explored", said Nanang Abdul Manaf.
It's just that it's not easy to bring in investors because the upstream oil and gas industry is faced with challenges because the Easy Oil Era has run out. Meanwhile, 70 percent of oil and gas reserves are in the territorial waters. To carry out exploration requires very large costs, reaching 80-100 million US dollars [equivalent to Rp. 11.2 trillion to Rp. 14 trillion], and the rate of return or IRR is low and the exploration period is short.
The Ministry of Energy and Mineral Resources has prepared a strategy to increase the investment attractiveness of oil and gas exploration, among others, increasing the prospect of oil and gas exploration, improving the investment climate through a fiscal approach, regulatory certainty, and political stability and security.
"With this strategy, it is hoped that Indonesia can get out of a critical situation to increase investment to meet the gap in Indonesia's energy needs in the middle of the energy transition phase towards the green energy era," he said.
Surya, Page-7, Wednesday, Feb 24, 2021
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