, pub-9591068673925608, DIRECT, f08c47fec0942fa0 Early April, SKK Migas Decides the Rokan Block Investment Scheme - MEDIA MONITORING OIL AND GAS -->


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Wednesday, April 1, 2020

Early April, SKK Migas Decides the Rokan Block Investment Scheme

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) is targeting an investment scheme in the transition period for the management of the Rokan Block to be decided in early April. One of the options is Chevron Indonesia as the existing operator to continue investing in the transition period.

Dwi Soetjipto

The Head of SKK Migas Dwi Soetjipto said that he and Chevron and PT Pertamina (Persero) as the new operators were still discussing investment options during the Rokan Block management transition. One of the options discussed was Chevron continuing its investment in the Rokan Block until the contract was completed in 2021.

the Rokan Block

This refers to the direction of the government through the Minister of Energy and Mineral Resources (ESDM) with the target of continuing investment to optimize the Rokan Block oil and gas production in the transition period.

"We are targeting the first week of April 2020 there has been a decision," he said.

Dwi briefly explained, initially, his side focused on encouraging business to business negotiations between Pertamina and Chevron regarding investments in the transition period. Originally, Pertamina was the one who would disburse funds and Chevron as the executor of its activities. However, this negotiation the call cannot continue. 

So, he continued, his party looked for other alternatives so that investment in the transition period would not cease. One other option is that investment will still be made by Chevron with the acceleration of investment cost recovery (cost recovery). However, proposals related to this option must be submitted by a contractor (KKKS) contractor, namely Chevron.

"So this is still being discussed quickly, what will it be like, and what Chevron [wants it] to be," Dwi said.

Previously, Chevron admitted there had been no more investment in the form of drilling activities in the Rokan Block since 2018 because the contract would soon be exhausted. This policy is likely to last until the contract expires.

Luhut Binsar Pandjaitan

Maritime and Investment Coordinating Minister Luhut Binsar Pandjaitan had also stated that Chevron would continue
investment in the Rokan Block. He has discussed this with the Ministry of Energy and Mineral Resources, SKK Migas, and Chevron in a video conference on Tuesday (17/3). This also keeps the production of the Rokan Block from falling significantly.

"Yesterday had a meeting with Chevron and SKK Migas and the Ministry of Energy and Mineral Resources. We agree that Chevron will continue this project until they are completed in August next year. So the decline in production can be put on hold not to be very drastic, it is a good decision, "he said.

Investor Daily, Page-9, Monday, March 30, 2020 

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