Oil and gas field development expected to become more encouraging

Oil and gas field development expected to become more encouraging

Illustration of oil well drilling. (en.wikipedia.org)

Jakarta (ANTARA) - The Special Task Force for the Upstream Oil and Gas Business Activities (SKK Migas) has expected that the development of oil and gas exploration activities in Indonesia would be more encouraging  in the future in order to further expedite the development of the national oil and gas sector.

"In the future, SKK Migas hopes that the field development can be more encouraging with many incentives offered in the Gross Split package," said SKK Migas Program and Communication Division Chief Wisnu Prabawa Taher, in a release received here on Sunday.

He explained, a number of incentives offered include starting from the location of the field, depth and condition of the reservoir, availability of infrastructure, other material content, oil density, and Domestic Component Level.

Wisnu also revealed the value of the Definite Work Commitment and the Definite Commitment achieved in the Cooperation Contract amounting to 1.14 billion US dollars.

That, he said, was for several exploration activities such as 47 G & G studies, 79 Exploration Wells, 38 Seismic Surveys, and 4 other Surveys during the 2018-2026 period in 24 Work Areas.

"Exploration activities can not only be carried out in the jurisdiction, but can also be carried out in the open area to encourage more discovery of new oil and gas fields from the results of exploration activities," said Wisnu.

At present, SKK Migas also follows up on the results of the discovery of exploration oil and gas fields.

 

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