To Increase Liquefied Natural Gas Business, PGN Collaborates with JCCP

    PT Perusahaan Gas Negara Tbk (PGN) is working with the Japan Cooperation Center Petroleum (JCCP) to study and improve the gas value chain, especially the liquefied natural gas / LNG business. The target is that the two parties will agree on a Joint Project according to the existing business potential.

    PGN's Director of Strategy and Business Development Syahrial Mukhtar said this collaboration also aims to promote the development of natural gas management technology. Through this cooperation, the increase in the gas value chain or LNG business is carried out based on the experience of Inpex, one of the Japanese oil and gas companies under the auspices of JCCP, with the Naoetsu model. The collaboration of JCCP, Inpex, and PGN is expected to increase capabilities and optimization in more real cooperation in the future.

Inpex Corporation

"In the next three years, the topic of the Joint Project will be mutually agreed upon according to existing business needs and potentials," he said.

    He explained that Naoetsu itself is the name of Inpex's LNG terminal. Through this model, study the technical, operational, business, and safety aspects of the Naoetsu Terminal can be one of the bases for learning and implementing collaborative natural gas projects in Indonesia. 

    In this collaboration, JCCP as the executor will prepare a work plan, project implementation schedule, and estimate the number and project description for this year. According to him, for 2020-2021, there are two collaborations with the JCCP, namely the Naoetsu Seminar and the Technical Cooperation Program.

"This year's Technical Cooperation Program is the LNG Joint Study in Arun Aceh and LNG bunkering throughout Indonesia. In its implementation, this joint study involves INPEX, which is a partner of PGN in the supply of LNG to Myanmar through the Arun Terminal, "explained Syahrial.

    The Naoetsu Seminar program is targeted to introduce Inpex's natural gas value chain and obtain technical studies on the operations of the Naoetsu Terminal which is located in Nagaoka, Japan. The operational technical study of the Naoetsu LNG Terminal includes underground gas storage in Nagaoka, operational safety, and health at the LNG terminal and pipeline, as well as other commercial issues in the gas business in Japan.

    Inpex is the largest oil and gas company in Japan with global exploration, development, and production projects in 20 countries. Meanwhile, JCCP is a government organization under the auspices of the Ministry of Economy, Trade, and Industry (METI) in Japan and consists of oil and gas companies. 

    Syahrial said that this collaboration was because PGN was looking for partners to implement a Joint Project to improve the domestic natural gas value chain. Meanwhile, Japanese industrial engineering is considered qualified, both in knowledge and technology related to gas chain modernization.

"Until finally this Joint Project was proposed with the JCCP," he said.

Investor Daily, Page-10, Tuesday, Oct 20, 2020

PGN Supports the Regional and National Economy in the Rokan Oil Pipe Project

    The PT Perusahaan Gas Negara Tbk (PGN) group is committed to providing the best support for the Oil and Gas Holding of PT Pertamina (Persero) so that the transition process for the management of the Rokan Block runs smoothly and can increase the achievement of financing efficiency. This was done through the implementation of the Rokan Oil Pipe National Strategic Project (PSN).

    In the construction of the Rokan Oil Transmission Pipe, PGN is targeting to have a positive impact on regional development. This is because the development of this national strategic project involves more than 60% of the scope of construction and local manpower.

"With the development that involves local resources, it is hoped that the multiplier effect will be able to contribute significantly to increasing human resource capacity and transfer of knowledge in the regions," said PGN President Director Suko Hartono.

    According to Suko, empowering local entrepreneurs and workers also supports the economic empowerment of local communities during times of crisis. Then the knowledge transfer that is expected to occur can provide benefits in human resource management, especially in the aspects of technological and commercial understanding in the construction of the Rokan Oil Pipe.

"The construction of the Rokan Oil Pipeline Project is a strategic project that is full of risks and costs a lot, so it requires increased mastery of technology and a good understanding of the commercial aspects. These two aspects are the main benchmarks so that the results can be optimal and provide broad benefits, "added Suko.

    Through PT Pertagas as the executor of the construction, cooperation has been made in the procurement of steel pipe material for the Rokan Oil Pipe with PT Krakatau Steel. From this collaboration, it is targeted to reduce the cost of material procurement by 16% and provide added value to the domestic steel industry because it is an effort to increase the use of domestic products (P3DN).

the Rokan by Chevron

"In principle, the construction of the Rokan Oil Pipe is an effort to boost efficiency in the energy budget in Indonesia, in line with the government's efforts to reduce oil imports. "With a Capex value (capital expenditure) of US $ 300 million, the efficiency optimization obtained is the US $ 150 million or around Rp 2.1 trillion, because the initial Capex allocation value was the US $ 450 million," said Suko.

PT Chevron Pacific Indonesia (CPI)

    This project was built to maintain the resilience of energy production after transferring the management of the Rokan Hulu Block from PT Chevron Pacific Indonesia (CPI) in 2021.

"The PGN group as Pertamina's Subholding Gas is committed to being part of the solution for national energy fulfillment. With our competence in developing oil and gas infrastructure and distributing energy both natural gas to all sectors, we strive to improve the effectiveness and efficiency of all energy supply chains. In addition, the implementation of investment operations is always aimed at moving the wheels of the regional and national economy, especially in a very challenging period during the current pandemic economic recovery, "said Suko.

Investor Daily, Page-10, Monday, Oct 19, 2020

Kadin Connects Oil and Gas Business Entrepreneurs with Shell

    The East Java Chamber of Commerce and Industry (Kadin) continues to strive to revive the economy of East Java, one of which is by opening up opportunities for entrepreneurs to invest in the oil and gas sector with Shell Indonesia. Previously, the East Java Chamber of Commerce and Industry has also been bridging entrepreneurs in East Java to partner with Pertamina Lubricant.

The East Java Chamber of Commerce and Industry (Kadin)

    East Java Kadin Chairman Adik Dwi Putranto said that although currently, it is still in a pandemic condition, the potential for the oil and gas business is still very attractive and potential. This is because the movement of people and goods is still necessary to maintain the stability of the economy and the country as a whole.

Shell Indonesia

"At the start of the pandemic, the oil and gas business also dropped dramatically due to the implementation of the Large-Scale Sausage Restriction (PSBB) policy in a number of regions. However, currently, it has increased and in East Java, it is close to normal. For this reason, we are very interested in Shell's desire to open up opportunities to do business in oil and gas. Because in these conditions any business opportunity must be tried. This is what is needed and there are already some friends who are thinking about expanding or shifting to other businesses. The East Java Kadin encourages entrepreneurs in East Java to seize these opportunities, "said Adik Dwi Putranto during the East Java Kadin Talk with the theme" The potential of the energy business in the new normal era.

    According to him, these opportunities become more attractive when entrepreneurs find it easy to do business.

"This is the concern of the East Java Chamber of Commerce and Industry. We will try to guard these opportunities into reality. Because there are actually many opportunities but there are also many obstacles, for example in terms of licensing, "he said.

Bhirawa, Page-10, Monday, Oct 19, 2020

Bekasi Oil and Gas Company was Sued

YAR Law Firm Attorneys at Law as the attorney for Foster Oil & Energy Pte Ltd (plaintiff) filed a lawsuit of default against the Bekasi City Oil and Gas Company (defendant) at the Bekasi District Court with registration number 418 / Pdt.G / 2020 / PN.Bks dated 29 September 2020. In the press release received by Media Indonesia, there are several points of concern.

First, the plaintiff and defendant made and agreed on a joint operating agreement for the management of Jatinegara Field on January 13, 2011, which was amended three times. Therefore, both the memorandum of understanding and the joint operation agreement, including the amendments, must be obeyed by the parties.

Second, the defendant did not comply with the contents of the joint operating agreement, including the amendments, but through its main director took several extreme actions, in the form of terminating or canceling it unilaterally which was only submitted through Letter Number 049 / B / PD.MGS / IX / 2020 dated 21 September 2020 regarding JOA Cancellation and Letter Number 088 / SRR & Partners / 09/2020 dated September 22, 2020.

In addition to the defendant's unilateral action, the defendant arbitrarily dismissed the existing KSO general manager and appointed himself as the Acting Officer of the General Manager KSO PT Pertamina EP - PD Migas Bekasi City/defendant as contained in PD Migas Letter Number 054 / B / PD.MGS / IX / 2020 regarding the Termination of GM KSO dated 22 September 2020 and PD Migas Letter Number 055 / B / PD.MGS / IX / 2020 regarding Announcement dated 22 September 2020.

In fact, it is clear that it has been stipulated in the joint operation agreement including the amendments that it is not permissible to terminate the existing agreement unilaterally and the replacement of the general manager of the KSO in implementing the KSO as the head of the operational team is actually the agreement between the plaintiff and the defendant.

Third, the defendant's actions did not create security and comfort for companies that invested their business capital in Indonesia in the case of Foster Oil and Energy Pte Ltd because the legal interests were not guaranteed, which was an important thing the investment company was willing to invest in Indonesia.

Previously, VP legal & Relations Pertamina EP Cholid said that his party was not aware of the report of the Indonesian Corruption Eradication Society Coalition (Kompak) to the Corruption Eradication Commission (KPK) regarding alleged corruption committed by Foster Oil & Energy, a company originating from Singapore that helped management. Jatinegara Oil and Gas Field, Bekasi, West Java. Even so, he emphasized that Pertamina EP will investigate the allegations until they are finished.

Media Indonesia, Page-4, Thursday, Oct 15, 2020

SKK Migas - Inpex Completes Metocean Service Visit for Abadi LNG Project

    SKK Migas together with KKKS INPEX Masela, Ltd. has successfully completed a metocean service visit for the Abadi LNG Project during the Covid-19 pandemic in the waters of the Abadi Field in the Arafura Sea, without any Covid-19 transmission and without any work accidents. 

    The NV NMS Brilliance ship, which departed from Jakarta for the Abadi Field area on September 13 with its personnel and crew for this metocean service visit, arrived back in Jakarta on October 9. The metocean service visit was carried out without having to dock at the port in Tanimbar Islands Regency, Maluku to undergo quarantine.

Blogger Agus Purnomo in SKK Migas

"With this new innovation, inspection and maintenance of 17 marine metocean stations and data collection related to metocean can be done more quickly, which will then be processed and analyzed," said SKK Migas Operations Deputy Julius Wiratno.

Julius Wiratno

    In more detail, the main activities carried out during the metocean service visit are taking, checking, and maintaining equipment and sensors at the metocean observation station, as well as downloading and verifying data and data storage systems, to re-installing sensors and equipment to the metocean observation station.

    Julius said that the metocean service visit activity during the Covid-19 pandemic was very troublesome so there must be new innovations from SKK Migas and Inpex in doing so, such as implementing service visits without anchoring at the Maluku port, enforcing and monitoring anti-COVID 19 health protocols according to World Health Organization standards. (WHO) is strict with the personnel and crew of the ship every day both before leaving, while onboard, and after completing the service visit.

"This success sets a good precedent for the implementation of upstream oil and gas activities in other oil and gas fields during the Covid-19 pandemic," he said.

    Vice President Corporate Services Inpex Masela, Ltd Henry Banjarnahor appreciates the success of this metocean service visit and thanks SKK Migas for its strong support for the implementation of metocean service visits during the Covid-19 pandemic, as well as to the Maluku Provincial Government and Regency Governments. Tanimbar Islands for their extraordinary support so that the metocean service visit took place smoothly and on time.

"This encourages us that other innovations can be planned and carried out after a very careful study, while still paying attention to the established health protocols," said Henry.

    The Abadi Masela project is planned to have a production capacity of 1,750 MMSCFD (9.5 MTPA LNG and 150 MMSCFD of pipeline gas). SKK Migas targets that the Abadi Masela Project is scheduled to produce in 2027.

Investor Daily, Page-10, Monday, Oct 12, 2020

Medco West Eel Exploration Well Drill-1

 

Medco E&P Natuna Ltd (Medco) began drilling the West Belut-1 exploration well in Block B South Natuna Sea, Riau Islands. The West Belut-1 well is the fourth exploration well drilled by Medco in Block B South Natuna Sea this year.

Deputy Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Fatar Yani Abdurrahman appreciated Medco's aggressive move to drill exploration wells amid the Covid-19 pandemic. 

Blogger Agus Purnomo in SKK Migas

    Prior to West Belut-1, Medco had also drilled exploration wells for Bronang-2, Kaci-2, and Terubuk-5 in Block B South Natuna Sea.

"This is an endeavor in the midst of the situation we face. We hope that this drilling will also succeed in adding to the national oil and gas resources following the success of previous wells, "he said.

From previous drilling activities, the Kaci-2 Well succeeded in delivering high-quality dry gas with test results of 13 million cubic feet per day (million standard cubic feet per day / MMscfd) from 2 DST zones. Meanwhile, the flow test results from the Bronang-2 exploration well were recorded at 45 MMscfd from 4 DST zones.

    Furthermore, Medco also succeeded in finding additional oil and gas resources through the Terubuk-5 well drilling. From the three results of the well testing interval, this well is proven to flow 33 MMscfd of gas and 3,300 barrels of oil and condensate per day (bpd) from 3 DST zones.

Fatar Yani hopes that drilling activities and the like will always get support from various related parties. Thus, efforts to increase national oil and gas resources can be carried out smoothly.

"Hopefully in the future, we will get significant additions, so that the goal of 1 million barrels of oil per day in 2030 can be realized," he added.

Investor Daily, Page-10, Monday, Oct 5, 2020.

SKK Migas Optimistic that Oil and Gas Block Increase

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) is optimistic that oil and gas production from the 13 oil and gas blocks whose contracts expire in 2020-2022 can be increased in the future. 

Blogger Agus Purnomo in SKK Migas

    This is because the work program to be carried out also increases along with the transfer to a new operator.

Dwi Soetjipto

Head of SKK Migas Dwi Soetjipto said, there was an increase in the work program in terminated oil and gas blocks in line with the certainty of a contract extension that had been given by the government. With the increase in this work program, his party projects that oil and gas production in this termination block can increase.

"The crucial period in 2021, oil and gas production must increase in the following year. This is in line with the vision of a production target of 1 million barrels per day (BPD) or a total of 3.2 million BOPED (barrel of oil equivalent per day/barrel of oil equivalent per day) in 2030, "he said.

Referring to SKK Migas data, the 13 oil and gas termination blocks are estimated to reach a low of around 250 thousand BOEPD this year and stay in the same range next year. Next, oil and gas production is projected to start increasing in 2022 and reaching more than 300 thousand BOEPD in 2023. The amount of oil and gas production is estimated to last until 2027 and again increase in 2028.

His party has prepared a number of strategies to maintain oil and gas production in the 13 termination blocks. In the short term, the increase in production is carried out through additional development drilling activities, as well as workover and well service.

"Drilling has a drastic increase from 2020 to 2025, as well as workover. Well service has also increased slightly, "Dwi explained.

Meanwhile, the Firm Work Commitment (KKP) promised by the operator will be used to increase oil and gas production in the medium and long term through exploration and enhanced oil recovery (EOR).

"The total KKP fund is the US $ 1.17 billion. We will also accelerate KKP activities if possible, "said Dwi.

Of the total KKP funds, Dwi explained, the US $ 782.7 million was budgeted for exploration activities. In detail, these funds will be used to carry out 41 G and G studies, 2,150 kilometers (km) of 2D seismic, 3,050 square kilometers of 3D seismic, and drilling of 70 exploration wells. Furthermore, the EOR budget is US $ 386.8 million which includes the implementation of two EOR studies and 9 EOR pilot projects.

Another thing that also determines the future production of termina block oil and gas is the transfer of management of the Rokan Block. His party and Chevron Indonesia have agreed to start investing in Well drilling during the transition period this November. This step is necessary to curb the rate of decline in production in the oil and gas block, which is the second-largest oil producer in Indonesia.

"In the previous 2019-2020, there were no drilling plans, except for this November. In 2021, there are 200 wells to be drilled, 112 wells from Chevron, the rest will be continued by Pertamina after August 2021, "Dwi explained.

However, Dwi noted there are a number of things that must be considered in maintaining the termination block oil and gas production. One of them, in increasing oil and gas production by adding activities, economic factors will be a challenge for oil and gas companies. Therefore, the decision to provide incentives is also important.

"Other things are the execution of the work plan, the schedule on stream which is on time, and the best effort to carry out the drilling," he said.

The 13 oil and gas blocks whose contracts expire in 2020-2022 are Block South Jambi B, Makassar Strait, Brantas, Salawati, Malacca Strait, Bird's Head, Bentu, Selat Panjang, Rokan, Tarakan, CPP, Tungkal, and Sengkang. 

Chevron

    The operators of 13 oil and gas blocks have successively switched to Jindi South Jambi B, Chevron Makassar Limited, Minarak Brantas Gas, Petrogas (Island) Ltd, EMP Malacca Strait, Petrogas (Basin) Ltd, EMP Bentu, Sumatra Global Energi, PT Pertamina Hulu Rokan. , PT Medco E&P Tarakan, PT Bumi Siak Pusako, Montd'Or Oil Tungkal Ltd, and Energy Equity Sengkang.

Investor Daily, Page-9, Saturday, Oct 3, 2020

LNG Tangguh Train-3 Papua focuses on targeting the domestic market

    The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) ensures that it will gradually reduce the export contract for Liquefied Natural Gas (LNG) cargo from the Tangguh Train-3 project. 

Blogger Agus Purnomo in SKK Migas

    This condition will increase the volume of LNG that has not been contracted. For this reason, SKK Migas will focus on finding vacancies in the LNG contract in the domestic market.

Dwi Soetjipto

    Head of SKK Migas, Dwi Soetjipto, said that one of the consumers who will buy the Tangguh Train-3 LNG is PT Perusahaan Listrik Negara (PLN). In 2022, PLN is projected to purchase 60 cargoes of LNG.

PT Perusahaan Listrik Negara (PLN)

"We hope that PLN can buy what has been allocated, said Dwi Soetjipto.

    For information, the Tangguh Train-3 project is projected to be onstream in the fourth quarter of 2021. That means retreating from the target in the second quarter of 2021. The gas sales for the Tangguh Train-3 project owned by BP Berau Ltd will reach 595 million cubic feet per day (mmscfd).

"Production started in the first year of about 40 cargoes and an increase of 60 cargoes in the following years," he said.

    Apart from being purchased by PLN, Kansai Electric is the LNG consumer of Train-3. 

Susana Kurniasih 

    SKK Migas Acting Head of Program and Communication Susana Kurniasih stated that SKK Migas and BP Berau Ltd are committed to providing the volume according to the contract. 

    She said the domestic market was a priority for Tangguh LNG purchases. When the domestic market has bought optimally, the excess LNG will be exported.

Kontan, Page-10, Saturday, Oct 3, 2020.

Pertamina Selects Partners to Manage the Rokan Block

    PT Pertamina (Persero) continues to select potential partners who will participate in managing the Rokan Block. PT Chevron Pacific Indonesia's contract in the Rokan Block will expire on August 9, 2021. Pertamina Hulu Rokan will replace Chevron as the operator of the Rokan Block.

PT Chevron Pacific Indonesia's

    Currently, the Rokan Block production is around 170,000 barrels per day (BPD). Director of Pertamina Hulu Rokan, R. P. Yudantoro, revealed that the process of looking for partners had not actually started. However, there are already companies that are interested in partnering with Pertamina.

The Rokan Block

"What already exists, several companies have sent letters of interest through Pertamina (Persero)," said Yudantoro.

    Even so, he did not want to specify which parties had proposed interest in jointly managing the Rokan Block. 

Fajriyah Usman

    Vice President for Corporate Communication of PT Pertamina, Fajriyah Usman, was reluctant to comment further regarding Pertamina's plans to seek partners. The reason is, currently, Pertamina's focus is to prepare a transition process towards the transfer of management in August next year.

"Pertamina Hulu Rokan is currently focused on preparing the transition process, ensuring operations in August 2021 will continue to run well," said Fajriyah Usman.

    Preparation Also includes rig procurement. Currently, the data transition related to exploration and exploitation, especially contracts and vendors from Chevron Pacific Indonesia, is considered to make the transition easier. 

    Pertamina Hulu Rokan targets to be able to drill 44 wells after the transfer of management of the Rokan Block later. Yudantoro said the rig procurement was being prepared.

"There will be five to six rigs to drill new wells during the four months (since the transfer of management)." Yudantoro said.

    The transfer of management letter has been issued by the Ministry of Energy and Mineral Resources (ESDM) on August 6, 2018. Its content is to give 100% management of the Rokan Block to Pertamina on August 9, 2021. Pertamina will pay a signature bonus of US $ 783 million or Rp. 11.3 million. trillion. The exact commitment is the US $ 500 million.

Blogger Agus Purnomo in SKK Migas

    To streamline the drilling process, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) together with Chevron Pacific Indonesia has signed ahead of agreement (HoA) Rokan Block on September 28, 2020. 

Dwi Soetjipto

    Head of SKK Migas Dwi Soetjipto said this signing was to ensure The continuation of Chevron's investment in the Rokan Block until management is transferred in August 2021.

"It takes ahead of agreement (HoA) and an amendment to the WK Rokan contract, which contains the scope of drilling activities and the return on investment costs at the end of the contract period, as well as the Abandonment and Site Restoration reserve costs which have not been clearly regulated in the generation contract," said Dwi Soetjipto.

    In this agreement, according to him, Chevron will get clarity regarding the return on investment. Thus, the government hopes that through Chevron's investment, the Rokan Block production can be maintained. The HoA signing is a short-term step taken in maintaining oil and gas production next year.

    ESDM Minister Arifin Tasrif confirmed that the government will oversee Chevron's investment and drilling implementation which is planned to start in November 2020. 

    President Director of PT Chevron Pacific Indonesia (CPI). Albert Simanjuntak said that the Rokan Block has become the foundation of the energy industry and has made a significant contribution to the progress of the country for decades.

"This agreement ensures that this strategic block will continue to play an important role in energy sovereignty in Indonesia for the coming year," said Albert.

Kontan, Page-12, Tuesday, Sept 29, 2020

SKK Migas Invites Chevron to Start Drilling in the Rokan Block

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) stated that PT Chevron Pacific Indonesia (CPI) could immediately begin drilling in the Rokan Block to maintain oil and gas production during the management transition period. 

PT Chevron Pacific Indonesia (CPI)

    This is after the agreement to accelerate investment in the Rokan Block was agreed.

Dwi Soetjipto

    Head of SKK Migas Dwi Soetjipto said, to optimize the production level of the Rokan Block during the transition period, the government needs to oversee the continuation of investment before the block production sharing contract (PSC) ends. For this reason, heads of agreement (HoA) and amendments to the Rokan Block PSC are needed as the basis.

"This contains the scope of drilling activities and returns on investment costs at the end of the PSC period, as well as post-mining fund reserves (Abandonment and Site Restoration / ASR) which have not been clearly regulated in the generation contract, ”he said.

According to him, this agreement benefits both parties. This is because, with a clear return on investment, it is hoped that the Rokan Block oil production will not decline during the transition period. In the short term, this strategy is also to maintain national oil and gas production from falling in the next year.

the Rokan Block

"This agreement allows Chevron to drill in the Rokan Block before the end of the contract period in August 2021," Dwi added.

Blogger Agus Purnomo in SKK Migas

Following this agreement, SKK Migas and Chevron will finalize implementation details in the coming weeks. This is to support the commencement of drilling activities. Previously, SKK Migas had stated that Chevron was committed to drilling 104 wells in the Rokan Block, namely 11 wells this year and 104 wells in 2021. 

    The total additional oil production produced is estimated at 5,000 bpd. In detail, Chevron will operate 2 rigs to drill 11 wells in the Rokan Block in November-December this year. Furthermore, in January next year, Chevron will run 5 rigs to drill 96 wells.

The estimated cost required for drilling is the US $ 11 million in 2020 and US $ 115 million next year. Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif reminded Chevron and SKK Migas to realize the terms agreed upon in the HoA. 

    This is because the implementation of this provision will have an impact on efforts to achieve the national oil and gas production target next year according to the 2021 APBN macro agreement.

"We will continue to monitor its implementation periodically to ensure the commitment of all parties goes according to the agreement, especially the certainty of the implementation of drilling activities which will start in November 2020," said Arifin.

Meanwhile, President Director of PT CPI Albert Simanjuntak said, the Rokan Block is the foundation of the energy industry and has contributed significantly to the progress of the country for decades.

"This agreement is the result of a strong and collaborative partnership with the Government of Indonesia and ensures that this strategic block will continue to play an important role in Indonesia's energy sovereignty for years to come," said Albert.

This year, the Rokan Block is targeted to produce 170,763 bpd of oil. Until the end of last June, the realization of this block's oil production was recorded to have exceeded the target, reaching 179,682 bpd. However, until the end of the year, the projected production of the Rokan Block is only 170 thousand bpd. The Rokan Block is the second-largest oil producer in Indonesia.

Investor Daily, Page-10, Tuesday, Sept 29, 2020