Indonesian Energy sector

[Indos]

Indonesia's Pertamina, Japan's NYK to team on LNG shipping​

Partners to transport gas from BP's Tangguh project

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Pertamina International Shipping has strengths in oil shipping and is looking to enter the LNG field. © Reuters


RYOSUKE HANAFUSA, Nikkei staff writer
October 3, 2024 01:01 JST


HOUSTON, Texas -- Japanese shipping company Nippon Yusen and Indonesia's Pertamina International Shipping (PIS) plan to launch a liquefied natural gas transport business.

The partners will transport LNG from the Tangguh project being operated in Indonesia by British energy major BP with partners including Japanese trading house Mitsubishi Corp., CEO Yoki Firnandi said. Their LNG carriers will be co-owned under a joint venture to be created as early as this year.

PIS, a shipper under Indonesian state-run oil company Pertamina, aims to triple its annual sales to $9 billion by 2034 compared with 2023.

The Pertamina unit plans $900 million to $1 billion a year in capital spending and will seek to expand its fleet from the current 320 ships to about 500 by 2034 as the company broadens its focus from oil transport to LNG, the CEO said in an interview.

"For Indonesia, or even Pertamina, I believe the future will be gas," he said.

NYK Line, as the Japanese shipper is commonly known, formed a strategic partnership with PIS in 2022 and made a small investment in the unit.

PIS, which plans to go public in late 2025 or early 2026, will also seek to operate floating storage regasification units, which store LNG and convert it back into gas.

Firnandi, who called NYK Line a leader in LNG shipping, wants the two companies to cooperate on domestic and international projects, jointly owning ships and bidding on contracts.

Firnandi did not disclose the investment ratios. The companies also will consider a new business to transport liquefied carbon dioxide by ship and store it underground in Indonesia.

The LNG transported from BP's Tangguh project would go for both Indonesian use and export.

The partners have not decided whether to have partial ownership in existing ships or use new ones. "We need to work closely with BP," Firnandi said, adding that if new ships are to be built, they would be ordered in 2025 and delivered around 2028. He did not disclose the number of LNG carriers the venture will seek to operate.

Indonesia is the world's sixth-largest LNG producer. The government is encouraging not only production but also the development of related businesses like LNG shipping.

Indonesia's Pertamina, Japan's NYK to team on LNG shipping

Partners to transport gas from BP's Tangguh project

asia.nikkei.com

 

[Indos]

Winners announced for auction of 7 geothermal sites in Indonesia​

22 Sep 2024



The Indonesian government has declared the auction winners for seven Geothermal Working Areas (WKP) and Preliminary Survey and Exploration Assignment Areas (WPSPE) with a total potential development capacity of 320 MWe. The complete list of winners was announced Minister of Energy and Mineral Resources Bahlil Lahadalia during the 10th Indonesia International Geothermal Convention & Exhibition in Jakarta.


The list of geothermal sites, winning companies, and corresponding development plans are as follows:

1. WKP Cisolok-Cisukurame (West Java)
   • PT Daya Anugerah Sejati Utama
   • Development plan of 40 MW
   • Investment of IDR 3.2 trillion (USD 210.5 million)
   • Projected workforce of 175 workers
2. WKP Nage (East Nusa Tenggara)
   • PT Daya Anugerah Sejati Utama
   • Development plan of 40 MW
   • Investment of IDR 3.1 trillion (USD 205.7 million)
   • Projected workforce of 175 workers
3. WKP Huu Daha (West Nusa Tenggara)
   • PT Sumbawa Timur Mining
   • Development plan of 60 MW
   • Investment of IDR 3.5 trillion (USD 228 million)
   • Projected workforce of 263 workers
4. WPSPE Koto Sani (West Sumatra)
   • PT EDC Indonesia
   • Development plan of 40 MW
   • Investment of IDR 3.5 trillion (USD 228 million)
   • Projected workforce of 175 workers
5. WPSPE Bora Pulu
   • PT EDC Indonesia
   • Development plan of 40 MW
   • Investment of IDR 3.5 trillion (USD 228 million)
   • Projected workforce of 175 workers
6. WPSPE Samosir
   • PT Medco Power Indonesia
   • Development plan of 40 MW
   • Investment of IDR 3.5 trillion (USD 228 million)
   • Projected workforce of 175 workers
7. WKP Toka Tidung
   • PT Ormat Geothermal Indonesia
   • Development plan of 40 MW
   • Investment of IDR 3.1 trillion (USD 202.5 million)
   • Projected workforce of 175 workers

The list also included the 20-MW Wapsalit WKP, but no winner for this site had been determined yet.

Winners announced for auction of 7 geothermal sites in Indonesia

The Indonesian government through the Ministry of Energy has announced the companies assigned geothermal development and exploration sites.

www.thinkgeoenergy.com

 

[Indos]

Indonesia's Pertamina Geothermal in talks to buy KS Orka unit for up to $1 billion, sources say​

By Yantoultra Ngui
September 9, 2023

• Summary
• Companies
• Talks come as Pertamina aims to double geothermal capacity
• Deal could be one of largest by Pertamina Geothermal since IPO
• Shares have jumped 33% since listing in February

SINGAPORE, Sept 8 (Reuters) - Pertamina Geothermal Energy (PGE) (PGEO.JK), opens new tab, a unit of Indonesian state energy firm Pertamina, is in advanced talks to buy a geothermal unit owned by KS Orka Renewables for up to $1 billion, two sources with knowledge of the matter said.

A deal could be inked before the end of this year if their negotiations to buy PT Sorik Marapi Geothermal Power conclude successfully, one of the sources added, cautioning that no agreement was certain.

Geothermal developer KS Orka had earlier this year appointed DBS to explore the sale of Sorik Marapi, the sources said, declining to be identified as the matter is private.

Pertamina Geothermal said on Saturday it had no information to share on the matter at the moment. KS Orka did not respond to requests seeking comment. DBS declined to comment.

The talks come as Pertamina aims to double its geothermal capacity by 2027-2028, which may cost an estimated $4 billion. Indonesia, Southeast Asia's largest economy, is keen to tap into its geothermal resources to cut energy imports and reduce carbon emissions.

If the deal materialises, it could mark one of the biggest by Pertamina Geothermal since its domestic initial public offering in February. The company's shares have jumped 33% since its listing.

Last month, it signed initial agreements with two Kenyan companies to explore geothermal power project partnerships that could be worth a combined $2.2 billion.

Sorik Marapi, situated in Mandailing Natal Regency in North Sumatra, is one of the largest geothermal projects under development in Indonesia with a capacity of up to 240 megawatts, according to KS Orka's website
, opens new tab.

https://www.reuters.com/markets/deals/indonesias-pertamina-geothermal-talks-buy-ks-orka-unit-up-1-bln-sources-2023-09-08/

 

[Indos]

Indonesia to supply 2-3 gigawatts of green electricity to Singapore​

Kamis, 5 September 2024 21:29 WIB


File - PLN's solar panels are seen on an 80-hectare plot of land in Nusantara, East Kalimantan. (ANTARA/HO-PLN)



Jakarta (ANTARA) - Indonesia is poised to export 2-3 gigawatts of green electricity to Singapore, according to Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan.


Speaking at the Indonesia International Sustainability Forum 2024, Luhut announced that Indonesia had concluded negotiations with Singapore, leading to an energy export agreement.

"We initially planned to export 2 gigawatts but may increase this amount," he remarked.

Luhut emphasized the importance of balancing domestic energy needs with exports. "While we are committed to exporting renewable energy, we must also prioritize domestic consumption," he said.

The bilateral cooperation is estimated to be worth tens of billions of US dollars.

During the forum, Luhut stated that Indonesia aims to export 2 gigawatts of green electricity in the first phase, but this could potentially increase to 3 gigawatts given the country's abundant renewable energy resources.

Rachmat Kaimuddin, Deputy for Infrastructure and Transportation Coordination, explained that in addition to the agreed 2 gigawatts of green power, Indonesia will also export 1.4 gigawatts of green alternating current.

To bolster its green energy industry, Indonesia partnered with Singapore last year to produce solar panels and battery energy storage systems (BESS). This collaboration enables Indonesia to supply green electricity to Singapore.

Furthermore, state-run electricity company PLN has launched the Accelerated Renewable Energy Development (ARED) Program to support Indonesia's goal of increasing the capacity of its renewable energy power plants to 480 gigawatts by 2060.

Indonesia to supply 2-3 gigawatts of green electricity to Singapore - ANTARA News Kalimantan Selatan

Indonesia is poised to export 2-3 gigawatts of green electricity to Singapore, according to Coordinating Minister for Maritime Affairs and Investment Luhut ...

kalsel.antaranews.com

 

[Indos]

United States Manufacturer Commences US$500m Factory Construction at Indonesia's Batang Industrial Park​

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Batang Industrial Park, Central Java



TEMPO.CO, Jakarta - SEG Solar, a United States-based photovoltaic module manufacturer, is the first investor to commence construction in Batang Integrated Industrial Park in Central Java for downstream silica sand.

The Deputy of Investment Promotion at the Investment Coordinating Board (BKPM), Nurul Ichwan, said the government aims to boost investment realization in the solar panel industry to achieve a renewable energy target of 42 percent by 2030.


"To date, the renewable energy mix has only reached about 14 percent,” said Nurul in a written statement on Monday, September 30, 2024.


According to Nurul, the Investment Ministry, or BKPM, supports the silica sand investment by PT SEG Solar Manufaktur Indonesia, which marks the government’s commitment to implement downstream programs.

"Including by strengthening Indonesia’s commitment to become a part of the global supply chain and to achieve the targets under Nationally Determined Contribution and renewable energy mix through the solar panel industry ecosystem," he said.

"Investment Ministry expects this project to become SEG Solar’s largest integrated photovoltaic factory in Southeast Asia,” said Nurul, adding that the investment worth US$500 million is expected to accommodate around 2,000 workers for the next five years.

“With 40 hectares of land required in total.”

Meanwhile, Nurul explained that phase one of the project is expected to be completed by the second quarter of 2025, with an annual capacity aimed at 5 gigawatts.

The groundbreaking of this project, conducted on September 30, was a continuation of an agreement by SEG Solar Inc., PT ATW Solar Manufaktur Indonesia, and the Batang Integrated Industrial Park. “The pre-cooperation agreement was signed on June 23, 2023, in Washington, D.C.,” Nurul said.

Indonesia and the United States, Nurul explained, have a strong commitment to collaborate. "Investment from the United States showed a relatively significant increase, with an average annual growth post-pandemic 2.3 times greater than the average annual growth during the pandemic," he said.

Meanwhile, in 2024, the United States ranked fourth as Indonesia’s foreign investor country, with an investment value of US$2 billion (first semester of 2024).

Nurul hopes that the production of solar panels can increase the electricity consumption demand in Indonesia, as it’s estimated to grow 4.1 percent each year.

M RAIHAN MUZZAKI



Editor’s Choice: Jokowi Inaugurates Temef Dam in NTT, Un

United States Manufacturer Commences US$500m Factory Construction at Indonesia's Batang Industrial Park

SEG Solar, a United States-based photovoltaic module manufacturer, is the first investor to commence construction in Batang Integrated Industrial Park

en.tempo.co

 

[Indos]

Sumatra-Java Will Be Connected with Gas Transmission Pipe Line​

Dani Late Jumadil
Okezone ·
Friday 21 June 2024

BANDUNG – PT Pertamina Gas (Pertagas), as part of Subholding Gas PT Pertamina (Persero) supports the integration of the integrated transmission pipeline of Sumatra Island to West Java and East Java.

"The integration will provide benefits for various sectors, ranging from increasing the monetization of natural gas in the upstream sector, the rise of pipe utilization in transporters to the fulfillment of gas in the downstream sector," said President Director of Pertagas Gamal Imam Santoso in his statement, Jakarta, Friday (21/06/2024).

Gamal said Pertagas has a network of 2,713 km of natural gas transmission pipeline connected to Subholding Gas's transmission pipe.

This is an important milestone in the effort to integrate the natural gas transmission pipeline from Sumatra Island to Java later. In addition, the Pertagas pipeline has also distributed natural gas to national strategic industry demand, such as fertilizers, refineds, electricity, steel and other end-user industries in Indonesia.

"The capacity of operations owned by Pertagas currently allows for the distribution of integrated natural gas from East Java to West Java through the Cisem (Cirebon-Semarang) pipe stage 2 later," Gamal said.

Gamal said the benefits if the pipes can already be connected, then the distribution of natural gas will be able to connect from the East Java region to West Java. So that the surplus of natural gas supply in East Java can meet the deficit of gas needs in West Java.

"In order to be optimally integrated, the integration of natural gas transmission pipes from Sumatra to Java will be carried out through 3 stages, namely Interconnection, Integration and Interoperability," he said.

He further explained, the first stage is the interconnection of gas pipelines that have started from 2020 with the integration of Sub Holding Gas SSWJ pipes with Pertagas WJA pipes.

This interconnection stage will parallel to other stages up to 2027 with the completion of the Dumai-Sei-Mangkei pipe interconnection. The second stage, namely the integration of operating systems, routes and commercial schemes across transmission pipelines.

The last stage, namely interoperability, by implementing the Gas Transporter Agreement (GTA) Multi-transporter and Gas Sales Agreement (GSA) Multi Destination scheme, is expected to create a channeling flexibility that will be coordinated operationally in the Integrated Command Center team.

"As the operator of the Cisem phase-1 transmission pipeline owned by the Ministry of Energy and Mineral Resources, Pertagas as part of Subholding Gas, hopes to support the integration of the Sumatra-Java transmission pipeline which aims to achieve the optimization of natural gas utilization in Indonesia," Gamal said.

Previously, Deputy Finance and Commercialization of SKK Migas Kurnia Chairi, said, the 2024 Earth Gas Forum is expected to be a snowball collaboration between KKKS in East Java and Central Java with natural gas buyers in West Java. The understanding between the two parties will make KKKS as a producer feel confident that the gas produced can be absorbed.

“The Buyer of Natural Gas in West Java is optimistic in maintaining and accelerating its industrial growth because it believes that the supply of natural gas will be sustainable. This effort is only the first step, it needs coordination and active communication, as well as the support of all parties to ensure efficient and equitable distribution of gas," Kurnia said.

Meanwhile, Director of Oil and Gas Infrastructure Planning and Development, Ministry of Energy and Mineral Resources (ESDM) Laode Sulaeman said to increase the absorption of natural gas, the government continues to strive for the construction of the infrastructure to the distribution of natural gas from producers to users, especially in the areas of natural gas producing to reach existing demand centers.

"For that, there needs to be synergy from all parties so that gas supply, infrastructure development and gas uptake to its consumers can run together," he said.

Sumatera-Jawa Bakal Tersambung Pipa Transmisi Gas Bumi - PAGE 2 : Okezone Economy

Integrasi pipa transmisi gas bumi Pulau Sumatera yang tersambung hingga Jawa Barat dan Jawa Timur.

economy.okezone.com

 

[Indos]

While Indonesian state-owned enterprises (SOEs) have been expanding their international presence over the years, the country still does not use much of its hydropower.

Indonesia is seeking to reach net zero emission by 2060 or sooner. Last October, then-Energy Minister Arifin Tasrif revealed that the archipelagic Indonesia’s hydropower potential stood at 95 gigawatts, but its installed capacity had only reached 6.7 gigawatts. The government is planning to raise the installed hydropower capacity to exceed 10 gigawatts by 2030.

Nepal Wants Indonesia to Invest in Its Hydropower

Nepal is nudging Indonesia to invest in its hydropower sector which already makes up a large part of its power generation.

jakartaglobe.id

 

[Indos]

Indonesia renewable energy potency

1. Solar Energy : 169 thousands Megawatt
2. Hydro Power/Energy : 95 thousands Megawatt (95 gigawatt)
3. Wind Energy : 68 thousands Megawatt
4. Geothermal Energy : 24 thousands Megawatt

Jokowi Ungkap Banyak Negara Antre Garap 'Harta Karun' Energi di RI

Presiden Jokowi mengungkapkan banyak investor dari berbagai negara antre untuk menggarap 'harta karun' energi di Indonesia, seperti PLTS hingga geothermal.

finance.detik.com

 

[Indos]

Indonesia’s Super Grid Becomes One Of The Keys To Clean Energy Penetration​

Cirata Dam solar panel, West Java, Indonesia

PLTS Terapung Cirata Cuma Makan Lahan Waduk 4%

Kementerian ESDM menyebut PLTS Terapung Cirata berkapasitas 192 MWp baru memakai sebesar 4% permukaan Waduk Cirata.

www.cnbcindonesia.com

Indonesia's Super Grid Becomes One Of The Keys To Clean Energy Penetration

The government plans to build an underwater power cable to connect five main areas of electricity in Indonesia or what is known as the Nusantara Supergrid Electrical Network. With the interconnection of the Supergrid power network, scattered sources of new renewable energy (EBT) can be utilized...

solarquarter.com

​

 

[Indos]

Indonesia Sticks to Ambitious 1 Million bpd Oil Production Target by 2030 Despite Downward Trend​

The Jakarta Globe

May 1, 2025 | 10:05 pm


Jakarta. The Indonesian government is holding firm to its ambitious goal of boosting domestic oil production to 1 million barrels per day (bpd) by 2030, despite a steady decline in output over recent years, Energy and Mineral Resources Minister Bahlil Lahadalia said on Wednesday.


The target nearly doubles the current production level, which hovers around 580,000 bpd. Still, Bahlil remains optimistic that the goal is achievable.


Between November and December last year, Indonesia’s oil production averaged approximately 600,000 bpd.


“The president has instructed us to raise oil production to 1 million bpd by 2030, and we must not surrender before the struggle even begins,” Bahlil said during a visit to an oil field jointly operated by state-owned Pertamina and Eni Indonesia in Kutai Kartanegara, East Kalimantan.

He also expressed confidence in meeting the short-term production target set in the 2025 State Budget.


“Our current output stands at around 580,000 bpd, while the state budget outlines a target of 605,000 bpd for 2025. We are confident not only in meeting but surpassing that figure,” he said.


Earlier this year, Bahlil pointed to the reactivation of idle oil wells as a key strategy to boost production.


“Since 1997, oil production has been in continuous decline, with the exception of a slight increase in 2008,” he said during a seminar in Jakarta on January 30. “We have over 40,000 oil wells nationwide, yet only around 16,000 are active.”


As part of a broader energy security strategy, the government also plans to redirect a significant portion of crude oil previously earmarked for export to domestic refineries.

Of Indonesia’s projected oil exports -- roughly 28 million barrels -- about 13 million barrels will instead be allocated to local refineries to strengthen domestic fuel supply and reduce dependence on imported fuel.


Indonesia’s oil production has been declining steadily in recent years: from 707,000 bpd in 2020, to 660,000 bpd in 2021, then down to 612,000 bpd in 2022, and further to 606,000 bpd in 2023.

Indonesia Sticks to Ambitious 1 Million bpd Oil Production Target by 2030 Despite Downward Trend

Earlier this year, Bahlil pointed to the reactivation of idle oil wells as a key strategy to boost production.

jakartaglobe.id

 

[Indos]

Indie lines up series of Indonesia gas projects, LNG under evaluation​

Amanda Battersby

Published 16 May 2025, 12:06

5–6 minutes

---

Criterium Energy going big on the Tungkal block in Sumatra

The Mengoepeh Pad 1 and central processing facility on Criterium's Tungkal block in Indonesia.Photo: CRITERIUM ENERGY


Canada-based and Southeast Asia-focused upstream independent Criterium Energy has ambitious plans to exploit historical gas discoveries on its Tungkal production sharing contract onshore the Indonesian island of Sumatra, where it currently produces oil, and modular liquefied natural gas is one development concept on the table.

The Tungkal block is home to five discovered gas fields but there has been little to no development previously due to a limited regional gas market and no proximate infrastructure, noted the operator. In recent years, demand for domestic gas has increased and infrastructure has been put in place.

First out of the traps will be the Southeast Mengoepeh (SE-MGH) field, where Criterium has already commenced site preparation. It anticipates early in the third quarter to perform an extended well test on the existing SE-MGH well, which had previously flowed at 8 million cubic feet per day of gas.

Following the EWT, which is intended to confirm deliverability and gas composition, Criterium expects to seal a gas sales agreement. First gas from the SE-MGH’s Talang Akar formation is expected in the first quarter of 2026, when the company will then move to exploit other discoveries in its existing portfolio.

The operator expects initial production from SE-MGH to be between 5 MMcfd and 7 MMcfd of gas (900 to 1200 barrels of oil equivalent per day). Criterium estimates it will need to spend $3 million to $5 million net to achieve first gas.

Subsequently, it intends to develop the Macan Gedang gas asset, where the Macan Gedang-1 well encountered gas in the Gumai formation and tested at 5 MMcfd, with the intention of bringing production online in late 2026 or early 2027.

Both SE-MGH and Macan Gedang can be produced via modular LNG technology or by tying into the existing local pipeline infrastructure and Criterium’s management is reviewing both options in parallel.

Three future projects​

Criterium this week confirmed it is prioritising repeatable, serial gas developments in the Tungkal PSC in the near to mid-term.

The operator expects to bring on stream over the next to three years additional discoveries on the Tungkal block following SE-MGH including Macan Gedang (contingent resources of 13 Bcf of gas ), Cerah (best case prospective resources of 26 Bcf) and MGH Pad-3 (volumes under evaluation) over the next two to three years.

The company in the first quarter achieved average production of 988 barrels per day of oil from Tungkal, up 957 bpd in the last three months of 2024.

The output increase reflects additional workovers conducted in December, which were partially offset by reductions associated with pump failures at the Pematang Lantih field, which took between some 60 and 80 bpd offline in February.

“Building on the successes of 2024, our focus remains on meaningfully growing and diversifying production, largely through a focus on near-term development of our core gas assets in the Tungkal PSC, while maintaining oil production near current levels,” said Matt Klukas, Criterium chief executive.

“Our strong regional focus, track record of reducing costs, and ability to attract premium pricing for gas and oil production, combined with the Indonesian government’s desire to bring discovered resources online to meet domestic demand, leaves us well positioned to act on a series of gas opportunities, one after the other, to weather shifting macroeconomic conditions and build significant value in Criterium as an organisation.”

For 2025, management intends to develop the company's gas assets with an eye to diversifying production beyond oil, backed by long-term gas sales agreements and funded from expected cash flow, Criterium explained.

Gas was initially discovered on the Tungkal PSC in 1988 with the Macan Gedang-1 well and subsequent discoveries were made in 2001 (SE-MGH), 2004 (MGH Pad-3) and 2008 (Cerah-1).

Criterium last year completed a technical feasibility study for the SE-MGH field and submitted it to the Indonesian authorities for inclusion into the existing Mengoepeh Plan of Development. The inclusion, which effectively reduces both the number of government approvals and time required to bring the field into operation, was approved late last year.

The operator in 2024 also signed a memorandum of understanding with Energasindo Heksa Karya (EHK), a company owned by Rukun Raharja and Tokyo Gas. Under the agreement, EHK will purchase discovered gas from SE-MGH and the Tungkal PSC via a new pipeline connecting SE-MGH to the Teluk Rendah gas plant.

Criterium last year also executed an MoU with BlueEnergy to support the egress of produced gas using Galileo Technologies' modular LNG technology. The Cryobox LNG Production Station provides a modular and transportable solution for liquefying gas directly at source thereby addressing the challenges of stranded gas by eliminating for extensive pipeline infrastructure.

The Tungkal PSC is under a gross split agreement that expires in 2042.

Indie lines up series of Indonesia gas projects, LNG under evaluation

Criterium Energy going big on the Tungkal block in Sumatra

www.upstreamonline.com

 

[Indos]

Chevron eyes return to Indonesia's upstream sector​

US heavyweight 'confirmed' to be coming back, according to SKK Migas head, Djoko Siswanto


The Bontang LNG project in East Kalimantan will receive feed gas from Eni's under-development Kutei basin gas projects.Photo: BADAK NGL

Bontang LNG is owned by Pertamina

---------------------------

Published 16 May 2025, 08:14


US supermajor Chevron is evaluating its return to Indonesia’s upstream sector, less than 20 months after it completed the divestment of its Indonesia Deepwater Development giant gas fields to Eni, according to a leading government official.

The Indonesian oil and gas fraternity was abuzz on Wednesday following a social media message sent by upstream regulator SKK Migas head, Djoko Siswanto.

Chevron eyes return to Indonesia's upstream sector

US heavyweight 'confirmed' to be coming back, according to SKK Migas head, Djoko Siswanto

www.upstreamonline.com

 

[Indos]

Medco Energy (MEDC) Ready to Pick Results from Jumbo Investment​

Author: Muawwan Daelami
May 18, 2025 | 19:07 WIB



JAKARTA, investor.id - PT Medco Energi Internasional Tbk (MEDC) is preparing to reap the results of the beginning of the production of two strategic oil and gas fields, Forel and Terubuk, managed by subsidiaries, Medco E&P Natuna Ltd.


The inaugural production of the two oil and gas fields located in South Natuna Sea Block B, the Riau Islands, was inaugurated by President Prabowo Subianto in a hybrid manner from the State Palace, Friday (05/16/2025).


The oil and gas issuer of the Panigoro family has invested jumbo funds in the Forel and Terumuk oil and gas field worth a total of around 600 million USD or equivalent to Rp 9.8 trillion (exchange rate of Rp 16,490 per US $).


Production from the Forel and Corrupted oil and gas fields will add to the national energy supply of up to 20,000 BOP oil BOPD and 60 MMSCFD gas, the total production equivalent of about 30,000 BOEPD.


In fact, the development of the Forel project includes the rental of FPSO Marlin Natuna which is a conversion of the first tanker by the nation's children in Indonesia.


President Prabowo Subianto said that the inauguration of the Forel and Open field production is an important milestone in Indonesia achieving self-sufficiency in energy and absolute conditions for the independence and strength of the nation.


"I on behalf of the people of the Republic of Indonesia (RI) congratulate the inauguration of these two projects which is the first inauguration in the field of oil and gas lifting during the new administration that I have led," explained President Prabowo in his official statement quoted on Sunday (18/5/2025).


Minister of ESDM Ministry, Bahlil Lahadalia, affirmed the success of Medco E&P starting the production of these two fields shows the seriousness of Indonesia in building a healthy and competitive energy investment ecosystem.


"This project has a strategic value because it has a biological child from RI. The workers are also all children of the Republic of Indonesia including the first FPSO ship is made 100% TKDN (local content) Indonesia, "said Bahlil.


The head of SKK Migas, Djoko Siswanto, also appreciated the achievement of Medco E&P. According to him, the Instream of the Forel and Corrupted fields is an important milestone that reflects the strong synergy between the Government and the Medco E&P in maintaining the sustainability of national energy supplies.


"We appreciate MEDC's commitment to high standards of occupational safety, health, and environmental protection," Djoko added.


Meanwhile, President Director of Medco Energi Hilmi Panigoro added, this success reflects MEDC's real contribution to strengthening energy security as a national agenda.


"Forel and Terumbuk project is the result of close synergy with the Ministry of Energy and Mineral Resources, SKK Migas and other stakeholders, as well as a form of our commitment in carrying out reliable, safe, efficient, and sustainable oil and gas operations," Hilmi said.

Medco Energi (MEDC) Siap Petik Hasil dari Investasi Jumbo

PT Medco Energi Internasional Tbk (MEDC) bersiap memestik hasil dari investasi jumbo mereka di lapangan migas strategis, Forel dan Terubuk.

investor.id

 

[Indos]

When Italian investor project on stream, Indonesia can add 90,000 Barel of oil per day !​

Firda Dwi Muliawati
19 May 2025 19:20

3–4 minutes



Photo: ESDM Minister Bahlil Lahadalia inaugurated the inaugural production of 2 oil and gas fields belonging to Medco E&P Natuna Ltd in the Natuna Sea, Riau Islands. Doc: Ministry of Energy and Mineral Resources


Jakarta, CNBC Indonesia - Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed that in 2027-2028 it targets there will be additional oil production up to 90,000 barrels per day (bph).

The oil production potential, Bahlil continued, will be produced by the Italian oil and gas (oil and gas) company, Eni in the working area of Geng North, East Kalimantan.

"We also report to Mr. President that in 2027-2028, when Eni began to produce, InshaAllah, we will get a concentrate of 90,000 barrels," he said in the inauguration of the Forel Field and Ground Oil and Gas project at the Natuna Sea, quoted Monday (19/5/2025).

That, Bahlil said, along with the target of lifting 1 million barrels of oil per day in 2030. With the addition of the condensate up to 90,000 bpd, Bahlil said it was optimistic that he could achieve the oil lifting target.

"So, our target with existing calculations for 2028-2029, it is at least 800,000, 900,000 to 1,000,000 (bpd), God willing, we as patriots of the nation will be ready to run," he explained.

Not to mention, he said the two projects that have just been inaugurated by President Prabowo Subianto on the Forel Field and the Furthed Field, the Natuna Sea offshore, Riau Islands, on Friday (05/16/2025) were also taken into account could add to national oil production up to 20,000 bpd.

That way, Bahlil is also optimistic that he can achieve the target of lifting oil in accordance with the State Revenue and Spending Budget (APBN) 2025 which is 605 thousand.

He said his party will achieve the target in line with cooperation between all stakeholders in the country to encourage increased oil lifting this year.

"In the state budget, in 2025, for the hard work of the ESDM Ministry team, SKK Migas, and all KKKS who are working hard on the ground, then we report, please support, God willing, APBN targets and Mr. President's target will be able to realize at the end of 2025," he added.

Bahlil is optimistic that he can achieve the target of oil lifting in accordance with the State Budget (APBN) 2025 which is 605 thousand.

He said his party would reach the target in line with cooperation between all stakeholders in the country to encourage the increase in oil lifting this year.

"In the state budget, in 2025, for the hard work of the ESDM Ministry team, SKK Migas, and all KKKS who are working hard on the ground, then we report, please support, God willing, APBN targets and Mr. President's target we will be able to realize at the end of 2025," he said.


(wia)

Proyek Investor Italia Jalan, Minyak RI Bisa Nambah 90.000 Barel!

Menteri ESDM Bahlil Lahadalia membeberkan pada 2027-2028 akan ada tambahan produksi minyak hingga 90.000 barel per hari (bph).

www.cnbcindonesia.com

 

[Indos]

Indonesia Has Abundant Oil And Gas, This Is The Proof​

Verda Nano Setiawan, CNBC Indonesia

20 May 2025 17:10

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Pertamina Upstream Subsidiary


Banten, CNBC Indonesia - The Special Working Unit for Upstream Oil and Gas Business Activities (SKK) Migas revealed that Indonesia still holds a considerable potential of oil and gas (oil and gas), especially to be developed.


Head of Work Program and Budgeting Strategy SKK Migas, Tommy W Poerwanto revealed that there are at least 128 basins that have oil and gas potential in Indonesia. But unfortunately of the 128 basins, 65 basins have not been explored.


“We are fortunate to have a strong geological foundation. Many of them are still unexplored basins. As you can see from the data of 65 basins. Almost 50% is still unexplored," he said at The 49th IPA Convention and Exhibition at ICE BSD, Tangerang, Tuesday (20/5/2025).


According to Tommy, 65 basins is a promising capital for the increase in domestic oil and gas production in the future. Nevertheless, he admitted to realizing the oil and gas upstream project in the country is not easy.


“The challenge is, how do we make it happen? That's the challenge and this is where the real challenge begins. How we make these resources a production, "he said.


On the other hand, Tommy said that currently Indonesia is one of the countries that has an investment attraction for the oil and gas sector in Southeast Asia. This follows the discovery of new oil and gas with considerable potential recently.


"The number is still growing and growing and this is in particular following some big discoveries like Andaman. Like the North Gang operated by ENI. So, these discoveries do not only reaffirm our geological potential. But it has also strengthened our investor confidence in the future of Indonesia’s energy sector,” he said.

RI Punya Potensi Migas Berlimpah, Ini Buktinya

Indonesia memiliki 128 cekungan migas, namun belum sepenuhnya tereksplorasi

www.cnbcindonesia.com