, pub-9591068673925608, DIRECT, f08c47fec0942fa0 Accelerated Masela Block Production Target - MEDIA MONITORING OIL AND GAS -->


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Friday, February 21, 2020

Accelerated Masela Block Production Target

The government is targeting the Masela Block to start production in 2026 or a year earlier than the original schedule, which is in 2027. The total investment for the Masela Block reaches the US $ 19.8 billion. 

the Masela Block

    Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif said steps to accelerate the project so that the impact of the Masela Block's presence could be felt earlier, especially in terms of revenue.

Arifin Tasrif 

"In order to get revenue, if possible in 2026," said Minister Arifin.

The Head of the Special Task Force for Upstream Oil and Gas Activities (SKK Migas) Dwi Soetjipto said the acceleration of the project was allowed after there was certainty about land acquisition. The initial schedule for construction starts in 2022, but we are committed to accelerating. Land acquisition, which has a target of two years, can be targeted for one year, "Dwi said.

Dwi Soetjipto

The land acquisition is targeted to be completed this year, so that next year the construction process can already begin. On the other hand, SKK Migas and the Masela Block operator, Interpex Masela Ltd, also continue to pursue commitments to purchase gas. If gas purchases have reached 80% of the total production capacity, then the final investment decision (FID) process can also begin.

Because if it's already FID, construction can begin. Funding can also be obtained because there are already agreements that have been pursued, "explained Dwi.

According to him, in working on the Masela project, the Dual-Feed scheme will be adopted in which the Engineering Procurement Construction (EPC) and Ont End Engineering Design (FEED) processes are carried out hand in hand. What is clear is that until now the tender process is still ongoing to determine the project implementation contractor.

Nevertheless, Dwi did not want to mention further about this tender. SKK Migas was asked to prioritize lead consortium handled by the Iokal company during dual FEED and EPC for the LNG Plant and Floating Production Storage & Offloading (FPSO) in the Abadi Gas Field project, Masela Block, Timor Sea, Maluku.

The Executive Director of the Association of the Energy and Oil and Gas Supporting Energy Business Association, Kamaluddin Hasyim, admitted that he received the news from SKK Migas asking the lead consortium, not from a local company, but to prioritize international companies.

Kontan, Page-14, Friday, Feb 21, 2020

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