google.com, pub-9591068673925608, DIRECT, f08c47fec0942fa0 The fate of the tuna block is unclear - MEDIA MONITORING OIL AND GAS -->

The fate of the tuna block is unclear


The news about the departure of oil and gas contractors continues to emerge. It is a partner of Premier Oil Tuna BV in the Tuna Block, namely Vietnam Oil and Gas Group (Petrovietnam), which is reportedly out. In exchange, a Russian company is exploring the block.

Petrovietnam

Acting Head of Program and Communication Division of SKK Migas, Susana Kurniasih, revealed that his party is still waiting for the assurance of Premier Oil, especially regarding the planned drilling agenda for this year.

Premier Oil

"Premier Oil already has a proposal for drilling two wells in 2020, but Premier said he would look for a partner before drilling," said Susana Kurniasih.

the Tuna Block by Premier Oil

The continuation of the Tuna Block depends on the seriousness of Premier Oil to complete its commitments. Susana explained that the exploration period for cooperation contract contractors (KKKS) is given for six years. An extension of the exploration period can be granted for a maximum of three years. The Tuna Working Area (WK) has received an extension period twice since it was first signed on March 21, 2007.

"The government has given two extension periods of exploration time and now this is the last year of the second extension," Susana explained.

Deputy Head of SKK Migas, Fatar Yani Abdurrahman, stated that it was true that there was news about the plans of foreign companies to become Premier Oil partners in the Tuna Block.

"So far there is no official information from Premier Oil, we are still waiting. It's just that the partner's plan has just arrived," said Susana Kurniasih.

It is an oil and Rosneft gas company from Russia that plans to join Premier Oil after news of the departure of one of the partners in the block. However, Fatar has not specified the participation rights that will be acquired by the new Russian partner.

The operator of the Tuna Block is Premier Oil Tuna BV with a participating interest of 65%. Fatar said that the Covid-19 pandemic had an impact on the drilling plan by Premier Oil, even though drilling was needed to ensure the Tuna Block Plan of Development (PoD). Not only that, but this is also considered to have an impact on the certainty of partners in the block.

As a flashback, in 2014 Premier Oil discovered potential reserves of 100 million barrels of oil equivalent (mmboe). Even Premier Oil said that currently, the potential for the Tuna Block could reach 100 million cubic feet to 150 million standard cubic feet per day (mmscfd). In 2017, Premier Oil and Petrovietnam signed a memorandum of understanding (MoU) for the sale of gas from the Tuna Block in the North Natuna Sea to Vietnam.

The signing of the MoU was carried out on the sidelines of the 2017 Asia Pacific Economic Cooperation Summit (APEC Summit) in Da Nang, Vietnam. The government has also provided guarantees for investment certainty in Natuna waters, especially the location of the Tuna Block which is directly adjacent to Vietnam.

Kontan, Page-12, Friday, August 14, 2020

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