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Four upstream oil and gas projects worth $45m set to kick off in first quarter
The four oil and gas projects which are scheduled to begin operation in the first quarter this year include three gas projects that have a collective output of 80 million cubic feet per day (mmscfd).
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Workers install a gas pressure-lowering device at a facility owned by Ophir Indonesia (Sampang) Pty. Ltd. in East Java in this undated photo. (Courtesy of/SKK Migas)
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our upstream oil and gas projects worth US$45.39 million are scheduled to start operations in the first quarter this year, as other projects face mounting problems, a government task force has said.
The Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas), which often speaks on behalf of related companies, said in Jakarta on April 9 that the projects comprised three gas projects, including one by PT Pertamina Hulu Energi (PHE), that have a collective output of 80 million cubic feet per day (mmscfd).
The fourth project is a 4-megawatt (MW) power plant that supports Jakarta-based PT Pertamina EP in producing 1,000 barrels of oil per day (bopd) from an oilfield in North Kalimantan.
“These achievements are part of our effort to maintain oil and production levels as per targets,” said SKK Migas deputy of operations Julius Wiratno in a statement issued on Wednesday.
He was referring to SKK Migas’s target of increasing domestic oil and gas production by 7.7 percent to 1.95 million barrels of oil equivalent per day (mboepd) this year.
The taskforce expects to achieve the target through the operation of 11 projects, including the four completed last quarter, yet many of the involved companies are struggling to make progress amid falling global crude prices and the COVID-19 pandemic.
As a result of these problems, Julius said SKK Migas would talk with the companies concerned to revise project targets. He said many companies experienced spending cutbacks amid the oil price crash and supply chain setbacks caused by the pandemic.
