Although less than 10 years are left, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) stated that it would continue to strive for oil production of 1 million barrels per day and 12,000 MMscfd of gas by 2030.
Head of Program Coordinator for the 2nd International Convention on Indonesian Upstream Oil and Gas 2021 Rikky Rahmat Firdaus said that the 2030 target is a big challenge for the upstream oil and gas sector in the next 9 years.
"Nine years isn't that long actually. To obtain oil and gas, it requires survey activities to drill. This will take time, so we must carry out activities from now on to achieve these targets,” he said.
SKK Migas and cooperation contract contractors (KKKS) have made a number of efforts to achieve this target. First, optimizing production from existing fields and maintaining existing production.
"The current state budget in 2021 will reach 705,000 barrels per day. This target alone is already a challenge," he added.
Second, chemically enhanced oil recovery (EOR) to obtain new oil reserves. Most recently, SKK Migas approved the plan of development (POD) for the Ubadari Field and Vorwata Enhanced Gas Recovery (EGR) in the Berau, Muturi, and Wiriagar working areas operated by BP Berau Ltd. This agreement resulted in additional reserves of 1,523 Bscf of gas or equivalent to 271.96 million barrels of oil.
“Furthermore, third, increasing oil and gas exploration with planned and in-depth and efficient studies. Then the G&G survey that we are doing with KKKS is carried out," he explained.
Director-General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Tutuka Ariadji stated that special steps were needed to achieve the oil and gas production target.
"If efforts are not made to prevent production from falling, by 2030, oil production could only be around 300,000 barrels per day. The strategy needs to be taken seriously," said Tutuka.
Meanwhile, the government also stated that the development of oil and gas infrastructure will still be aggressive in the future. This is to support the increase in production that has been planned to meet domestic supply.
Tutuka said there are 42 upstream oil and gas projects in Indonesia for the period 2021 to 2027 which are expected to produce 1.1 million barrels of oil equivalent per day with an investment of around US$43.3 billion.
Bisnis Indonesia, Page-4, Thursday, Nov 18, 2021
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