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JAKARTA (ANTARA) – The Indonesian government is strengthening cooperation with Chinese companies to increase the country’s oil and gas reserves and production, said Ariana Somanto, Indonesia’s Upstream Oil and Gas Business Development Director.
He said the three stakeholders were collaborating to use technology provided by several Chinese companies to explore new reserves and boost Indonesia’s production.
The three stakeholders are the Energy and Mineral Resources Ministry’s General Directorate of Petroleum and Gas (ESDM), the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), and PT Pertamina Hulu Energi, a subsidiary of state-owned oil and gas company Pertamina.
Two of the five exploration areas in eastern Indonesia have been approached by Chinese oil and gas companies (Sinopec and PetroChina). In June this year, Buton and Timor were designated as joint study areas.
“Once the joint study is completed, we will conduct a direct tender for the oil and gas work area, identify the successful bidder, and commence oil and gas exploration,” Somanto said in an official statement on Friday.
In addition, he said that at the Indonesian Petroleum Association (IPA) 2024 Congress and Exhibition held in May, several Chinese companies participated in the auction of five oil and gas blocks.
“Auctioning these blocks is part of our strategy to find new oil and gas reserves,” he said.
In terms of increasing production, Pertamina is working with Sinopec to implement technologies aimed at increasing Indonesia’s oil and gas production. One proposed collaboration with Sinopec involves a joint operations plan.
Currently, the government is processing a license to obtain oil and gas data, after which the two companies will sign a confidentiality agreement. After the agreement is signed, Sinopec will send a technical team to the five exploration areas to conduct research and technical evaluation.
Somanto said the ESDM minister has instructed to speed up cooperation with Chinese companies.
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Translated by: Kelly DeVanto, Anton Santoso
Editor: Aditya Eko Sigit Wicaksono
Copyright © ANTARA 2024
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