Deputy Vice Minister of Energy and Mineral Resources Arcandra Tahar noted in a statement here on Tuesday that Pertamina had prepared its investment after the signing of the gross split production sharing contract of the oil block.
The government has decided that Pertamina will operate the country`s most productive oil block, Rokan Block in Riau, after PT Chevron Pacific Indonesia`s (CPI`s) operatorship contract expires in 2021.
The Rokan oil block is expected to increase Pertamina`s contribution to the national oil production to 60 percent.
"Pertamina will start to invest in the Rokan Block soon after the signing of the contract. Pertamina has reported which wells will be explored," he remarked.
Spokesman of the ministry Agung Pribadi remarked that since December 2018, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has worked intensively to ease the transition process in collaboration with PT Pertamina and Chevron Pacific Indonesia.
The transition process is aimed at maintaining and optimizing the oil block`s production until the transfer of operatorship to Pertamina in 2021.
"Learning from the transition of the Mahakam block, the discussion and preparation of transition of the Rokan block is more intensive and effective to offer a better result. The collaboration will be intensified in 2019," Pribadi noted.
Currently, oil production in Rokan block has reached 207 thousand barrels per day, or equal to 26 percent of the national oil production.
The oil block, covering 6,220 square kilometers, has 96 fields, of which -- Duri, Minas, and Bekasap -- have the highest potential.
Since it began operations in 1971 up to December 31, 2017, the Rokan oil block has produced a total 11.5 billion barrels of oil.
Reporting by Afut Syafril Nursyirwan, Sri Haryati
Editing by Suharto
Reporter: Antara
Editor: Suharto
Copyright © ANTARA 2019
