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Eleven oil and gas projects to go on stream this year
Three oil and gas projects went on stream by September and another eight projects are expected to begin production in the fourth quarter of this year.
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An Ambar Block oil and gas rig located off Java. The Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) expects 11 oil and gas projects to go on stream this year (Courtesy of/www.nrgedge.net)
T
he Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) said it expects as many as 11 oil and gas exploration projects to go on stream this year to further increase the country’s oil and gas production.
Three of the oil and gas projects went on stream by September and another eight projects are expected to begin production in the fourth quarter of this year, the oil and gas task force said.
The eight projects comprise five gas projects and three oil projects that are expected to produce, respectively, 470 million square cubic feet per day (mmscfd) and 10,500 barrels of oil per day (bopd), SKKMigas spokesman Wisnu Prabawa Taher has said.
Domestic and foreign investors have spent a total of US$800 million for the eight projects, which account for 11 percent of the total investment of $7.3 billion in the upstream oil and gas sectors as of August this year.
“In principle, our activities will go on. How much will we invest [next year]? We will wait until the third quarter is over. Many projects only finish in the fourth quarter,” Wisno said in Jakarta on Sept. 29.
The projects include, among others, ExxonMobil’s exploration of the offshore Kedung Keris oil field in East Java and ConocoPhillips’s exploration of the Suban gas field in South Sumatra.
ExxonMobil’s project, which Wisnu said is 85 percent complete, holds the largest estimated oil production capacity among the eight projects: 3,800 bopd.
