Oil and gas giant Pertamina will soon decide the fate the East Natuna block, the largest gas reserve in Asia. 

Pertamina president director Dwi Soetjipto said that the evaluation carried out in the East Natuna oil and gas blocks would be conducted after the company had completed a memorandum of understanding (MoU) with the National Iranian Oil Co. (NIOC) this month. 

“After signing the MoU, we will carry out an in-depth due diligence report, including evaluation of our upstream blocks. This usually takes four months to complete,” he told reporters on the sidelines of a halal bihalal gathering at Pertamina’s headquarters in Central Jakarta.

The East Natuna block is located in the Natuna Islands, Riau Islands province, and boasts total proven reserves of 46 trillion cubic feet (tcf). The block holds five times more gas than the Masela block in Maluku province.

The block reportedly has a high CO2 level of 72 percent, the highest exploitation field CO2 level in the world. To remove carbon dioxide (CO2), development of the block will require advanced technology and huge investment.

A consortium consisting of Pertamina, US-based ExxonMobil and Thailand’s PTT Exploration and Production (PTT EP) is currently exploring the area.

The Energy and Mineral Resources MInistry director-general for oil and gas, IGN Wiratmaja Puja, said that the government would to hold a meeting to expedite East Natuna’s production. 

“I cannot yet confirm [when operation will begin]. We hope that it will start before 2030,” he said. (tas)

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