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AsianOil SOUTHEAST ASIA AsianOil
the development centre around an onshore ter- “The process goes on. They cannot just pull out
minal instead of a floating LNG (FLNG) facility like that. They have to remain committed to their
as originally planned. plans for this year, even if it’s at a limping pace,”
Wiratno dismissed the suggestion, noting Wiratno said. The official, however, conceded that
that the “show must go on”, as the government the project may need to be recalculated and that it
had already signed a deal with the partners on had become “a wait and see situation”.
Masela’s development that located the LNG plant The Abadi terminal in its current form is
on Yamdena Island. slated to come online in 2027.
Indonesia’s Aceh province
unveils oil, gas discoveries
PROJECTS & THE Indonesian province of Aceh said last week that of the joint study into direct offers to carry out
COMPANIES two joint studies had discovered oil and gas reserves at exploration and exploitation in the area.”
the offshore Singkil and Meulaboh blocks. Conrad already operates three acreages offshore
The Aceh Oil and Gas Management Agency Indonesia – the 890-square km Duyung produc-
(AOGMA) said in a July 1 statement that Sin- tion-sharing contract (PSC) in the Riau Islands
gapore’s Conrad Petroleum had teamed up with Province, the 800-square km Offshore North X-ray
the Veterans National Development University PSC near Jakarta and the 1,650-square km Off-
to study the Offshore South West Aceh (Singkil shore Mangkalihat PSC in north-east Kalimantan.
Block), while Jakarta-headquartered Frontier The two discoveries come as the future of the
Point and Trisakti University had studied Off- country’s upstream is being questioned, owing to
shore North West Aceh (Meulaboh Block). field maturation, the country’s notorious levels of
It said the 8,200-square km Singkil acreage bureaucracy as well as newly emerging challenges
had 296bn cubic feet (8.38bn cubic metres) of related to the coronavirus (COVID-19) pandemic.
proven and probable (2P) gas reserves, while the Indonesia’s oil lifting in the first five months
9,200-square km Meulaboh has 2P reserves of of the year shaved a fraction to 701,000 bpd from
192mn barrels of oil and 1.1 trillion cubic feet 701,600 bpd a year earlier, while gas lifting edged
(31.15 bcm) of gas, the agency’s upstream head, down to 5.66 bcf (16.29 mcm) per day from 5.87
Ibnu Hafizh, said. bcf (166.24 mcm) per day. The weaker output and
The official said the discoveries were a pos- development challenges related to the ongoing
itive sign for the province’s upstream industry pandemic have prompted SKK Migas to lower
and that they had stoked investor interest in the oil and gas production targets for 2020 to 705,000
region. He said: “Conrad Petroleum and Fron- bpd and 5.64 bcf (159.72 mcm) respectively from
tier Point are interested in continuing the results 725,000 bpd to 5.73 bcf (162.27 mcm) per day.
Week 27 09•July•2020 www. NEWSBASE .com P7
