google.com, pub-9591068673925608, DIRECT, f08c47fec0942fa0 October 2023 -->

Wikipedia

Search results

Tuesday, October 10, 2023

Smooth Roads and Red Carpets for ENI

Bisnis Indonesia, Page-4, Wednesday, Oct 4, 2023

    The Indonesian oil and gas authority has rolled out the red carpet for plans submitted by the ENI-Italy company, after discovering natural gas reserves of 5 trillion cubic feet in the North Ganal Block, East Kalimantan-Indonesia.

Red Carpet for ENI ITALY

    The Ministry of Energy and Mineral Resources (ESDM) has confirmed that it will provide full support for the plan proposed by ENI to develop natural gas reserves in North Ganal, including part of the Indonesian Deepwater Development area so that it can be developed simultaneously.

the North Ganal Block By ENI-Italy

    Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, Tutuka Ariadji, said that the merger of some of the Indonesian Deepwater Development (IDD) working areas would have a positive impact on Indonesia's upstream oil and gas development. The reason is, that the potential that exists in the area can be directly utilized by the facilities that are available.

    Tutuka Ariadji said we really support dividing the two IDD areas because it is good, and will reduce costs. Some can be used by existing facilities.

    ENI is planning to submit a revised Plan of Development IDD by dividing the development of the oil and gas block into two concentrations, namely the north side and the south side.

    The plan is for the southern part of the IDD to be connected to the floating production unit (FPU) of the Jangkrik Gas Field, while the northern part, which is close to the current large gas discovery location, will be connected to the North Ganal development block.

    The Ministry of Energy and Mineral Resources is currently waiting for the revised PoD so that it can be followed up immediately. The government is also committed to facilitating the acceleration of PoD approval for the block so that the timeframe for exploitation preparation can be shortened.

   Tutuka also explained that the exploration well drilled by ENI contained a very large amount of condensate to support Indonesia's oil production in the future. 

Blogger Agus Purnomo in SKK Migas

    This makes the government want these reserves to be monetized within 2 years from now. Meanwhile, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) estimates that Eni will build a new FPU facility on the northern side of their oil and gas portfolio, namely in the stretch of the Kutai Basin, off the coast of East Kalimantan, Indonesia.

"The Jangkrik Gas Field FPU is for the South side, it looks like it will build a new hub. So, there will be new facilities, because the Jangkrik Gas Field is already full by the Merakes Block and the Muara Bakau Block," said SKK Migas Deputy for Exploitation Wahju Wibowo.

Blogger Agus Purnomo in SKK Migas

   Wahyu added that the new facilities resulting from gas processing from the North Ganal Block will also be able to be channeled to the Bontang Refinery which is currently experiencing uncertainty in gas supply, due to the problem of decreasing production in a number of oil and gas working areas.

   "If it could be developed, the current Bontang Refinery only has 2-3 trains, with supplies from North Ganal it could have 4-5 trains. "It was previously thought that the Bontang Refinery would die, now it can have a longer life," he said.

the North Ganal Block By ENI-Italy

    ENI said that the discovery of significant amounts of natural gas reserves came from the Geng North-1 exploration well in the North Ganal Block, around 85 kilometers off the coast of East Kalimantan in Indonesia.

    Based on Eni's official statement, initial estimates show that the total structure discovered is 5 Tcf of gas with a condensate content of around 400 Mbbls. The data obtained by the company also allows for faster development studies later.

     The Geng North-1 well was drilled to a depth of 5,025 meters in a water depth of 1,947 meters; passing through a gas column approximately 50 meters thick in a Miocene sandstone reservoir with good petrophysical properties.

    The well production test (DST) has been successfully carried out for a comprehensive assessment of the gas discovery. Although limited by testing facilities, this study allows for estimates of the well capacity of up to 80-100 MMscfd and approximately 5-6 kbbls of condensate.

    It is also believed that the findings will contribute significantly to the formation of a new gas production hub in the northern part of the Kutai Basin. In addition, the findings will be connected to the Liquefied Natural Gas/LNG facility at the Bontang refinery, in East Kalimantan, Indonesia. Apart from Geng North, it is estimated that there are more than 5 trillion cubic feet of gas in undeveloped fields within the oil and gas block.

    The Indonesian oil and gas authority also believes that these findings can encourage more massive exploration investment in the future, considering that the potential for oil and gas in Indonesia is still very promising because there are still 68 basins out of a total of 128 oil source basins that have not been drilled.

Good News on the Discovery of a Large Oil Source by ENI ITALY

Bisnis Indonesia, Page-4, Tuesday, Oct 3, 2023

    The Indonesian oil and gas industry has received good news again from the discovery of large volumes of oil and gas reserves by the giant company from Italy, ENI. It is hoped that this positive sentiment can increase the attractiveness of the oil and gas sector.

ENI ITALY

    The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) revealed that ENI had succeeded in finding natural gas reserves in the North Ganal Working Area, East Kalimantan-Indonesia, with an initial gas estimate of 5 Trillion Cubic Feet (Tcf).

    With an initial estimate of discovered resources of around 609 million barrels of oil equivalent, the report makes the discovery at the Geng North-1 well one of the world's top three exploration discoveries this year.

Blogger Agus Purnomo in SKK Migas

    Head of SKK Migas Dwi Soetjipto said that this finding would be one of the giant discoveries that would significantly increase gas reserves to support a sustainable increase in Indonesia's oil and gas production in order to achieve the oil production target of 1 million Barrels of Oil Per Day (BOPD), and gas of 12 billion cubic feet per day (BSCFD) in 2030.

    It is believed that this giant discovery can encourage more massive exploration investment in the future, considering that Indonesia's oil and gas potential is very promising because there are still 68 basins out of a total of 128 oil source basins that have not been drilled.

 Dwi Soetjipto said we hope that the discovery of gas reserves in North Ganal by one of the International Oil Companies [IOC] will encourage more other IOCs to enter Indonesia.

the North Ganal Block ENI

    SKK Migas immediately carried out intensive coordination with ENI to formulate the next stages so that this giant discovery could be immediately monetized.

    The Indonesian oil and gas authority will encourage the discovery of gas reserves to reach the production stage, so that it can increase supply to support development, including gas downstream which is currently being advocated by the government.

"This is also supported by the gas infrastructure that is already available in East Kalimantan, so it is hoped that it can be developed quickly and efficiently," said Dwi Seotjipto.

the North Ganal Block ENI Working Area

    ENI said that the discovery of significant amounts of natural gas reserves came from the Geng North-1 exploration well in the North Ganal Block, around 85 kilometers (km) off the coast of East Kalimantan.

    Based on Eni's official statement, initial estimates show that the total structure discovered is 5 TCF of gas with a condensate content of around 400 Mbbls. The data obtained will allow for faster development studies.

    The Geng North-1 well was drilled to a depth of 5,025 meters in a water depth of 1,947 meters, passing through a gas column approximately 50 meters thick in a Miacene sandstone reservoir with good petrophysical properties.

    The well production test (DST) has been successfully carried out for a comprehensive assessment of the gas discovery. Although limited by testing facilities, this study allows for estimates of the well capacity of up to 80-100 MMscfd and approximately 5-6 kbbls of condensate.

    It is also believed that the findings will contribute significantly to the formation of a new gas production hub in the northern part of the Kutai Basin, East Kalimantan. 

    Apart from that, these findings will be connected to the Liquefied Natural Gas/LNG facility in Bontang, East Kalimantan-Indonesia. It is estimated that apart from Geng North, more than 5 Tcf of gas is located in undeveloped fields within the oil and gas block. The potential for significant multi-Tcf exploration is being refined through ongoing studies.

    The Geng North discovery is close to the Indonesia Deepwater Development (IDD) area which includes several old discoveries that are not immediately developed in the Rapak and Ganal Blocks, where Eni has just announced the acquisition of Chevron shares, increasing ENI's participating shares, and acquiring Chevron operator ownership.

    Eni also promised to seek to merge the two oil and gas working areas for more optimal gas development. the acquisition also provides an opportunity to accelerate the development of the Gendalo and Gandang gas projects with gas reserves of around 2 TCF through the Jangkrik Gas Field facilities operated by Eni.

ACCELERATION

    Meanwhile, the Ministry of Energy and Mineral Resources (ESDM) is targeting the discovery of giant gas reserves from the Geng Nordi-1 exploration well, North Ganal Block, ENI hopes to produce production within the next 2 years.

    The Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, Tutuka Ariadji, said that his party would facilitate the accelerated approval of the Plan of Development (PoD) plan for the block. The hope is that the timeframe for exploiting preparations can be accelerated.

“We will facilitate this so that this happens quickly. "We are targeting that in the next 2 years, we will be able to get first gas," said Tutuka Ariadji.

    Even so, Tutuka reminded Eni of a number of homework that had to be completed when developing the gas reserves discovery, such as the vast expanse and the very challenging depth of the oil and gas reserves.

"It's a very large oil expanse, the thickness is okay and satisfying, but it's very wide," he said.

    The lengthy licensing process in the upstream oil and gas sector has become a public highlight to the point that the government is pushing for the issuance of special regulations that regulate the simplification and acceleration of basic requirements and licensing for upstream oil and gas activities in order to increase competitiveness and certainty of investment for Cooperation Contract Contractors (CCC/KKKS) in Indonesia.

    ReforMiner Institute Founder & Advisor Pri Agung Rakhmanto said that several times the discussion of the technology and economics of a proposed PoD was too detailed and very technical, making the process take a long time.

    This has not been supplemented by finalizing discussions regarding the PoD's decision itself, so KKKS has to wait longer to get certainty.

    In investment, there is a time value of money. The longer the time, the relative decrease in economic value. This also adds to the uncertainty factor if there is no decision soon.

    Pri Agung Rakhmanto also suggested that the government issue a special regulation that regulates the maximum time span for the PoD approval process. The hope is that the process of discussing and approving oil and gas field development plans in Indonesia can be faster.

    Pri Agung also sees the same thing happening in the upstream oil and gas procurement process, where technical verification and checking processes before approval related to procurement take a very, very long time. As a result, KKKS feels that investment procedures in Indonesia are still too long and increase costs.