google.com, pub-9591068673925608, DIRECT, f08c47fec0942fa0 The Merakes Project will be Operated in the Second Quarter of 2021 - MEDIA MONITORING OIL AND GAS -->

The Merakes Project will be Operated in the Second Quarter of 2021

 


    The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) is optimistic that the Merakes Field development project, the East Sepinggan Block, will start operating in the second quarter of this year. This project will generate additional gas production of up to 368 million standard cubic feet per day / MMScfd.


Blogger Agus Purnomo in SKK Migas

    Deputy for Operations of SKK Migas Julius Wiratno said that the work on the Merakes Project which was undertaken by ENI East Sepinggan had been delayed due to the Covid-19 pandemic. The main obstacles faced were restrictions on the movement of goods and Human Resources (HR) required by the project. However, ENI and his party are trying to catch up with the delay in this project.

"Currently, the activities have been carried out smoothly, so that the project progress has reached 88.5% or only 1.5% slower than the target. We are trying to get the first gas project at the end of April 2021, "said Julius.

the Merakes Field

    This year, gas production from the Merakes Field is targeted to reach 345 MMScfd. This gas production will continue to be boosted so that it can reach peak production of up to 368 MMscfd in 2022.

"Gas from this field will be flowed to the Bontang LNG Refinery in East Kalimantan to fulfill existing market commitments," he added.

    The construction of the Merakes Project began in 2019 with an investment fund of US $ 1.3 billion. In the plan of development / POD for the Merakes Project, ENI plans to drill six underwater wells and build a submarine pipeline system that will be connected to the floating production unit / FPU of Jangkrik Field in the Muara Bakau Block. 

Jangkrik Field

    Later, the Merakes Field gas will be sent via the existing pipe from the Jangkrik Field FPU to the Bontang LNG Refinery operated by PT Badak NGL. Similar to the Jangkrik Field, the Merakes Field will also extend the operating life of the Bontang LNG Plant.

    ENI stated that Merakes Field is estimated to have gas reserves of 2 trillion cubic feet in its official statement. This oil and gas potential was discovered after ENI drilled the Merakes-1 well in 2014. Furthermore, in 2017, ENI drilled the Merakes-2 appraisal well. In January, two Projects Completed SKK Migas succeeded in completing two of the 12 oil and gas projects targeted to operate in 2021.

    The two projects are the KLD Project by PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) with a capacity of 16 MMscfd and the project to divert gas supply from the South Mahakam Field to the Balikpapan Refinery by PT Pertamina Hulu Mahakam (PHM) 50 Mmscfd. According to Julius, these two projects were successfully completed on time, despite the Covid-19 pandemic.

"The timely implementation of these two projects gives confidence that the implementation of other projects that will be carried out in 2021 can be realized on time," said Julius.

    Together with the cooperation contract contractor (KKKS), they are trying to maximize the implementation of activities in the field. One of them is by accelerating the realization of projects that are supposed to be implemented next year to this year.

"I do not promise, but we are trying to accelerate the achievement of activities like last year. This acceleration requires a very large effort, "said Julius.

    Last year, SKK Migas succeeded in realizing the operation of 15 projects out of the targeted 12 projects, even though one project encountered obstacles.

    Julius hopes that acceleration efforts can be carried out considering that current oil prices are improving faster than world predictions so that they can also increase the economic calculation of upstream oil and gas business activities. After the average world oil price in January reached around the US $ 55 per barrel, the oil price reached US $ 63 per barrel this February. 

    Meanwhile, the oil price assumption in the APBN is the US $ 45 per barrel. The total investment for the 12 upstream oil and gas projects which are scheduled to operate this year reaches the US $ 1.7 billion. The 12 projects will provide additional oil production of 28,508 barrels per day (bpd) and gas of 484.2 MMScfd.

Investor Daily, Page-9, Saturday, Feb 20, 2021

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