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OIL AND GAS - JAKARTA. The Ministry of Energy and Mineral Resources (ESDM) through the Directorate General of Oil and Gas has determined the winner of the auction for the Working Area (WK) of Oil and Gas Phase III of 2023 for the Bobara WK offered through the Regular Auction mechanism.
The auction for the Oil and Gas WK started on September 20, 2023, and ended on December 15, 2023.
The Director General of Oil and Gas, Tutuka Ariadji, stated that the Bobara WK is located in the waters of West Papua Province with an area of 8,444.49 km2 and has a potential oil and gas resource of 6.8 Billion Barrel Oil Equivalent (BBOE).
"Based on the assessment of the participation documents from the auction participants, it has been determined in the Decision of the Minister of Energy and Mineral Resources, the winning company of the Bobara Oil and Gas WK is Petronas Carigali North Madura II Ltd," said Tutuka at the Lemigas Office in Jakarta, Tuesday (20/2).
The value of the signature bonus from the Bobara WK is US$ 50,000 and the value of the definite work commitment (KKP) is US$ 16.92 million, which consists of 3 G&G Study activities, acquisition and reprocessing of 3D high resolution seismic data 2,000 km2.
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Previously, the government had signed contracts for 4 Oil and Gas WKs, namely Akia, Beluga, Bengara I, and East Natuna. Thus, with the addition of the winner of the Bobara WK, the government received a total definite commitment investment of US$ 51.62 million and a total signature bonus of US$ 1.2 million.
"With the exploration activities in this new Working Area, it is hoped that new significant oil and gas reserves can be found to increase oil and gas production in Indonesia," he added.
Meanwhile, the Oil and Gas WKs that do not have winners in the 2023 Oil and Gas WK Offer, namely Natuna D-Alpha, Panai, Patin, Akimeugah I, and Akimeugah II, are designated as Available Working Areas or open.
Tutuka explained, this is a golden opportunity for Business Entities or Permanent Business Forms interested in proposing the management of this Available WK in accordance with the expected Terms and Conditions for the next 6 months.
To optimize the potential of oil and gas in Indonesia, Tutuka clearly stated, in 2024 the government also presented WK candidates that are being evaluated for offer.
Tutuka emphasized, the government will continue to strive to invite investors to carry out oil and gas exploration activities in an effort to maintain national energy resilience.
"I want to emphasize that Indonesia still has abundant oil and gas potential to support energy needs. We invite prospective investors and oil and gas companies that have capabilities and meet the requirements to cooperate with us to develop it. We also invite technology providers to support the development of the upstream oil and gas sector," said Tutuka.
