, pub-9591068673925608, DIRECT, f08c47fec0942fa0 All Posts - MEDIA MONITORING OIL AND GAS -->

Friday, January 20, 2023



How can North Korea finance its country, especially by building ballistic missiles with nuclear warheads? Have any other countries owed North Korea? Where did Kim Jong Un get the funds to be able to make nuclear weapons and nuclear power plant reactors in North Korea?

    Okay, let's explain in detail. In the last 11 months of  2022, North Korea angered and worried western countries and western allies by launching more than 80 ballistic missile launches from 20 different locations near the coast and mountains, this being a new record for Kim Jong's country. This has never happened in the last 50 years or even since the last 10 years there have been missile launches at more than 20 locations by North Korea.

    What is this? there's even the visceral question of where did North Korea get its dollars? 

    It is impossible for Kim Jong Un to print money because North Korea has no products to export. Isn't that the logic? That's right.

  One of the conditions for printing money is that the product is exported or there is another way. 

    While North Korea needs to buy raw materials from outside Korea, where should it be paid in dollars? This is the North Korean way of being a state where each country is required to survive, live without debt, must have its own strategy, as well as all of your countries, must be creative.

    We go back to North Korea through a time machine for a moment, on January 5, 2022, North Korea launched the first sophisticated hypersonic missile of its own making. Continued on 10, 11, and 12 January 2022 then launched another missile, then launched another missile in February, continuing in the following months with a large series ICBM or Inter Continental Ballistic Missile. Where did North Korea get the dollars to do it all? Everything is beyond the estimates of economists around the world. 

Hwasong 17

    North Korea apparently uses "Stolen Cryptocurrency" from Hacker bureau 121, they mine and steal cryptocurrencies.

 In 2020, North Korea's Cyber Bureau 121 stole more than $200 million USD of cryptocurrency digital assets.

Park Jin Hyork Bureau 121

    In 2021, international intelligence data obtained data that the Cyber Army Bureau 121, or North Korea's Hacking Division stole cryptocurrency digital assets estimated at a value of US $ 500 million, even this year the North Korean cyber army robbed and hacked online games worth 1 billion US dollars.

    Data on the money stolen by North Korea, if added up from 2019 until now, is US $ 3 billion. Pyongyang raises money from cyber attacks on Cryptocurrencies. 

    North Korea has thousands of world-class hackers and every year the military campus creates hundreds of new hackers. All of this is managed and financed by the state.

Squad Bureau 121

    North Korea has been implementing this strategy since 2010. This cryptocurrency digital asset is the US dollar valuation in value and this is underlying North Korea printing their money domestically. 

    The category of North Korean hackers is "Aces Cyber Crime" or "Ace hacker the best of the best" and there are thousands of them. Bureau 121 decodes Microsoft, hacks crypto Mining, makes computer viruses, and decodes various sources of world wealth including the wealth of other countries.

    The Windows operating system is a system that has been coded by North Korean hackers so that it can enter data from more than 130 other countries.

    There has been a lot of data on this by counter-cyber army hackers in many developed countries in the world, but the Korean hackers have never been defeated. Bureau 121 is North Korea's Cyber Crime Attack division which is feared all over the world, frightening, very sophisticated, complicated, and genius. 

    Failing just a little, the Bureau 121 hackers could be executed by Kim Jong Un. Therefore they are very afraid and rarely smile.

    Bureau 121 is a cyber special force part of the North Korean elite spy agency, it is estimated that in the coming years up to tens of billions of US dollars will be robbed around the world of various digital assets other than crypto, such as NFTs, Forex stocks, and many more, then North Korea's foreign exchange will become very thick and strong. Printing money is strengthened by its underlying stolen crypto reserves. 

    So apart from having a lot of nukes with a range of up to 5000 Km that can reach America, North Korea has become a frightening enemy for the business world, and the country's cyber defense is weak. Kim Jong-un is very smart because he studied in France. 

    It seems that we have to learn how to be a state in North Korea so that we can have our own nuclear power like Kim Jong Un. But don't forget to always smile and don't frown. Also, don't forget to Hair Style the Ambitious model of a smart person, Kim Jong Un. Cheers.



    As a prospective Global Player, your country must know what's happening in the world and how to make all of that a benefit for your country's position. On the other hand, lessons about a regime in a country can be used as lessons that will make the younger generation understand how to be smart as a state, understand which leaders should be elected, which groups are behind the elected leaders, and what if the younger generation manages the country, the reduction of sentences for corruptors carried out in real life is the work of whose era? 

    For example, our children and grandchildren ask whose era of government produced immoral people, was applauded, in which era was religion used as a political tool, and by whom was religion used for politics.

    In whose era did America rule as much as it pleased all of your countries? In whose era did China rule and protect your own country, as if it were the work of your own nation's children. All of this is food for reflection, for that we enter into the latest information so that what is bad in other countries does not happen in our place and what is good is very suitable to be applied to our own country. Let's imitate this method.

    For this reason, we briefly go to Iran using a time machine when in 1979 the new regime controlled the country of Iran, the monarchy system was changed to a theocracy, the royal system was changed to a religion-based system, the religious system was used as the basis of the state, and its leaders were executors of God's orders. 

    Going against government officials themselves means going against God's will. Wow, that sounds scary and scary. Yes, right. His claim is that the new regime of Ayatollah is building a new paramilitary force. Since then the elite troops of the Iranian army have been named "Sepah E Pasdaran E Enghelab Islami" which means the Army Of Guardians of the Islamic Revolution. 

    Since then the world has known him by the name of the Iranian Revolutionary Guard Corps or IRGC, namely, the Iranian Revolutionary Guards army formed on the orders of Ayatollah Khomeini as the first Iranian spiritual leader created to defend the regime from threats from within and from outside, but now its function has expanded to become very powerful. 

    The IRGC determines Iran's foreign policy, controls society, controls public security and order, makes the government anti-demonstration, manages Iran's economy also controls military operations to control who will be the managing leader of the government of the President of Iran who will be elected collectively from spiritual leaders Iran, the Collegium decides. 

    But all controlled by the Revolutionary Garden Army "IRGC" is a "regime within a regime" or in world language we know it as "SHADOW" which is called the "Deep State".

    We continue to understand Iran and understand that the Iranian Revolutionary Guards can be said to be the strongest military force in West Asia. We start with their courage to challenge American hegemony where on December 6, 2022, American warships in the Hormous Strait were harassed by the Iranian Revolutionary 

    Guards, then on December 8, 2022, heavy weapons were sent to Hezbollah in Beirut which was used to attack Israel in a very large amount.

    We step back into a time machine for a moment to November 2022, the Canadian government includes the IRGC category as a terrorist organization where previously a Drone from the IRGC Iranian military base attacked a tanker belonging to the country of Liberia which was protected by the American 5th Fleet. 

    Western countries know the IRGC as a terrorist who attacks many countries including cyber attacks and espionage in western countries, in addition to attacks on Western countries, Iran's 2 neighboring countries namely Saudi Arabia and Bahrain are labeling the IRGC as a terrorist organization. The question is for information, how did the IRGC become as powerful as it is today? 

We go back in a time machine again to the 70s as the IRGC's prefix, but not in the regime of a theocratic government based on religion, but still in the regime of Shah Reza Pahlavi, who is a monarchy. 

    Syahreza has a Secret Service, which is a secret troop that protects his power. This troop is very elite, cruel, ruthless, and inhumane, and has a license to kill like James Bond 007, when Shah Reza was overthrown by the Iranian Shia special forces, all of them were eliminated by the IRGC.

    Then the Ayatollah regime built a special elite force to protect the Ayatollah regime who obeyed the regime, not the state. 

    That is the origin of the IRGC, the government regime also made a special law that separates the military which protects the Iranian nation from the IRGC which protects the ruling regime. 

    This makes the Iranian Revolutionary Guards Army a legitimate institution in Iran to do whatever it wants to protect the regime in political decisions and control of the country. This is coupled with the events in which Iraq, supported by Russia, invaded Iran, which is supported by America, in the 80s of the war. 

    The length of 8 years has changed the landscape of the functioning and existence of the IRGC far above the Iranian national army.

    The Iranian regime doesn't trust the Iranian army, it trusts the IRGC more. Because during the war against Saddam Husein in Iraq, the Iranian army did not fight wholeheartedly and even released Iraqi soldiers so they could enter Iraq. 

    Finally, 31 divisions of the IRGC exist in 31 provinces in Iran and organizationally the IRGC is not like an army in a country in general, the IRGC is more of a paramilitary or militia or militia group of rebel forces more like ISIS or Al-Qaeda model of its organizational structure.

    Within the IRGC there is a Quds division or Purification division. This purification is the most fearsome division because it controls unconventional warfare and intelligence operations. If there is valuable information like this, it's like the contents of your head are being charged. 

    It is this Quds Division that supports all organizations in many countries to fight against American and Israeli hegemony, or the term shadow for Non-State Actors, the Quds division provides weapons ranging from personal attack weapons to Heavy Artery Rocket RPGs, Attack Drones, and Kamikaze Drones shahid 136 in Ukraine, to missile rockets, Hezbollah rebel forces, Houthi forces in Yemen, Hamas in Palestine, and Quds are staunch opponents of Israel's Mossad.

    Returning to the IRGC, apart from military strength, the IRGC has economic power similar to the Iranian State Owned Enterprises. 

    Currently, the IRGC holds Two-thirds of Iran's economy which is administered by the IRGC. The conclusion is that the Revolutionary Guards do not get funds from the State Budget, but directly from business units such as construction, road construction, dam construction, oil, engineering, vehicles, real estate, manufacturing plants, and banks.

    Khatam Al-Anbiya is the economic division of the Revolutionary Guards which annually generates 12 billion US dollars, estimated by western countries to be no wonder. 

    It's true, the point is that the IGRC is an armed conglomerate corporate business, so it starts to imagine in your mind, What the regime within the regime operating on Human Rights law which is important to continue to rule on earth. Hopefully useful for all of you. Show you care for the world to be better. 


Xi Jinping's Lies Were Exposed by Western Countries. Your Countries is being tricked too??

    Did China spread the "Artificial Virus" around the world? once again we ask this question to serve as a lesson for the next pandemic attack which may have a different model but one goal.

    Does China cooperate with globalists to make the world submit to a new hegemony, namely non-America, non-Western allies, but submit to China, which uses globalists as partners for conquest or yesterday's pandemic was indeed an 'ACCIDENCE' which China took advantage of by producing counterfeit vaccines that were spread to the whole world with the name of "vaccine diplomacy" to conquer a weak world to continue to be under China's control, it seems the answer is YES TRUE.

    Although Beijing will never admit it by saying there is no evidence or where is the proof? 

    We all know that China with its vaccine always says that its vaccine is among the first to come to solve the deadly "Artificial Virus". China distributes millions or even billions of vaccines and uses vaccine diplomacy to countries that cannot afford to pay by being provided in the form of loans. Just like America and the West helping Ukraine there is no word "HELP" for free. 

    All this assistance is a loan from the west to the Ukrainian side, as well as Chinese-style vaccine diplomacy given in the form of a loan,  but now in the end it has to be admitted that injections from vaccines originating from China don't work properly, they don't even work at all, they are even a mockery of cheap goods made in a hurry from China nothing is right again echoing around the world today's world health.

    Why is information about the Wuhan virus back in the world's spotlight? We all know there have been big problems in China in the last 6 months so China's great leader Xi Jinping had to strictly implement the Zero Covid Policy (ZCP) that it closed many cities which resulted in China's economy only growing below 1 percent, very far from achieving its economic target i.e. above 5%.

    Why is it that the severity of the city lockdown crackdown has to be carried out by imprisoning residents in their respective homes in order to achieve Zero Covid which is still at high speed exposing the Chinese population?

    Until last Sunday, the Chinese government finally had to take the drug "Virus Made in China" from other countries from other companies that have proven successful in curing patient exposure due to the "Artificial Virus", one of which is taking it from Pfizer in large quantities, because their vaccine does not work at all in the body of the patient. 

    It turns out that there is a massive backlash from the "Artificial Virus" in China at this time in an extremely large amount far greater than what is reported in world data.

    China is reducing and not telling the truth, but the fact is that China is still in Lockdown because none of the vaccines used in China work so there is no immunity in the Chinese population. Herd Immunity is the immunity of a population that is greater than the sum of the pandemic it is exposed to. Immunity occurs because it is indeed high immunity or assisted by vaccines. 

    A working vaccine of course. On the political side, Xi Jinping no longer feels strong enough to force residents to stay at home in prison in their own homes. The government finally gave in to the voices of the people who shouted asking Xi Jinping to step down and even dissolve the Chinese Communist Party. 

    The only way is to give up and cover up defeat by buying antiviral drugs that will be given to the Chinese people and no longer using the Sinovac vaccine. In the end, China was forced to buy an effective anti-covid drug from Pfizer called "Paxlovid".

    When this "Paxlovid" was available in online shops in China in one the hour it sold out instantly millions of packages were sold in a matter of hours showing how bad things are in China at this time with the massive attack of the third 

wave of "Artificial Virus", not only the Chinese people being pranked by their country's officials, but China spreads and uses this Paxlovid in many countries as a weapon to suppress the economy as a "debt trap".

    1.8 billion doses of Paxlovid have been distributed worldwide. 300 million doses as a donation, but the remaining 1.5 billion is sold and given as debt to poor countries like Cambodia, one of the countries that were given this vaccine debt, there are 30 million doses of vaccine Cambodia finally got this debt vaccine.

    What is vaccine diplomacy by China? such as the recognition of the state of Nicaragua to accept donations of vaccines, then Nicaragua must cut off business relations with Taiwan. Finally, after thinking long and hard about Nicaragua and having no choice when millions of people had been exposed to the Chinese virus, Nicaragua accepted China's terms, namely to let go of business relations with Taiwan and then land two vaccine planes from China the next day.

    The same offer was made to Paraguay, but Paraguay did not accept the free offer from China. 

    Paraguay chose to buy from Pfizer even though at a high price, but it was proven later that Paraguay managed to deal with the "Virus Made in China".

    While the result of Nicaragua is not different, it is the same as not giving a vaccine which in the end gets another vaccine, not a Chinese vaccine, after that it can solve problems in the country of Nicaragua. This was discovered recently, not in 2020. 

    Xi Jinping's campaign on the world in 2020 said that China's vaccine is the solution, the world is turning against itself now.

    In terms of numbers, the country of Bangladesh,  for example, lost a lot of medical personnel because it used the Sinovac vaccine, but the Sinovac vaccine did not work, so the people of Bangladesh finally got help from India, where medicine from India managed to cure the "Virus Made in China" and did not use the Sinovac vaccine, but used drugs. 

    Many countries close to China that were stuck with the Chinese vaccine experienced problems at the beginning of the pandemic because they eliminated many paramedics, and health workers including doctors in countries such as Iran, Brazil, the Philippines, Cambodia, Pakistan, and Turkiye, all medical staff and doctors died who in the end finally these countries realized and used vaccines from other non-Chinese products and only then effectively dealt with the "Virus Made in China" problem in their respective countries. 

    The second vaccine injection and Booster from other vaccine products after that can counteract this "Virus Made in China".

    If at first this "Artificial Virus" was a disaster for the world, which was tricked into using the ineffective Sinovac vaccine from China, China should once again be held responsible. China has indeed made billions of dollars or profits from this pandemic. But now it turns out to be hit by his own karma. 

    If we look at China from a human rights perspective, what China is doing is an Extra Ordinary Crime, which must be held responsible for the deaths of 7 millions people around the world at the start of the pandemic because they believed what China's great leader said.

    Many medical workers remain exposed after being injected with China's Sinovac vaccine in 2020 and That explains why the Sinovac vaccine doesn't work those who believe in it should be held responsible for believing in the counterfeit vaccine that doesn't work. 

    Many countries immediately gave other vaccines such as AstraZeneca, and Pfizer, after that the pandemic was resolved and many countries were no longer focusing on vaccine use, but on administering drug therapy because vaccines have limitations, and drugs were found to be more effective for those who were exposed.

    We are back in China now where at the moment the Lockdown has not been opened and we are still strictly implementing the Zero Covid Policy. 

    What is it? because Herd Immunity in China was not achieved, drugs from western countries were opened and they began to relax the Zero Covid policy with shame. It should be that the Chinese leader has a big "SHAME" but it will never happen that officials admit to "blaming their subordinates" which is more certain.

    Let's try to detail why China has been building hospitals at an extraordinary speed to increase the facilities and the number of patient inpatients?

 Isn't there a "Virus Made in China" in there? There are many every day to this day, and the people have not yet reached the massive scale immunity power that 80% of the population is immune to.

    Herd immunity hasn't been achieved yet, it looks like it's still a long way off. That is the disaster of their own creation that they are feeling now. Okay friends, what do you think about the information this time? Let's share our opinions in the comments column below wisely. Show you care for the world to be better.


Thursday, January 12, 2023

After the Accident Incident, Petrochina's Production Activities Are Still Normal

    The PetroChina Cooperation Contract Contractor (KKKS) stated that until now, oil and gas production activities in the Jabung Working Area are still proceeding normally, following the accident in the WB-D7 well area in West Tanjung Jabung, Jambi, which is operated by Drilling Service Companies on Monday (9/1).

"Production activities are still ongoing and the investigation process in the field is continuing," PetroChina Vice President Human Resources and Relations Dencio Renato Boele said in a written statement, Wednesday (11/1).

    It was stated that the accident involved three workers, two of whom came from the Bohai Drilling Contractor company and one came from the Great Wall Drilling Contractor. The two service companies are contractors providing the Bohai-85 Rig which is currently carrying out a workover program at the WB-D7 well in the Jabung Working Area.

    Currently, the three workers who were injured in the accident have been treated at a hospital in Jambi. After a thorough examination, one employee was allowed to undergo outpatient treatment and the other two continued intensive care at the hospital.

"Two workers who are still being treated are currently in stable condition and are receiving further treatment from a team of specialist doctors. For information, one person is being treated for burns and one person is being treated for a broken bone," PetroChina Vice President Human Resources and Relations Dencio Renato Boele said.

"Currently, we continue to coordinate with the Drilling Service Companies for patient treatment and improvement of rig conditions on-site. We have also reported this incident to SKK Migas and the Directorate General of Oil and Gas," Dencio.

Blogger Agus Purnomo In SKK Migas

    The Head of Representative of SKK Migas Sumbagsel Anggono Mahendrawan confirmed the incident. 

"We have received a report of a work accident at Rig Bohai-85 last night, there were no fatalities, but three people were injured," said Anggono. 

"Nevertheless, SKK Migas requests that the PetroChina PSC Contractors immediately investigate this incident and work together with stakeholders in the regions according to their respective duties and functions, which pay attention to the corridors of the applicable laws and regulations," he continued.

    Anggono said that in principle SKK Migas always emphasizes that PSC Contractors carry out upstream oil and gas operations in accordance with applicable SOPs including in terms of maintaining security and reliability. 

    Anggono also prayed that the condition of the workers, especially the two workers who are currently undergoing intensive care at the hospital, will soon improve and be able to go home.


Investor Daily, Page-10, Thursday, Jan 12, 2023

Contract Extended Until 2043, PetroChina Continues Jabung Block Development


    PetroChina International Jabung Ltd. is ready to continue aggressively developing the Jabung Working Area (WA) after confirming the contract extension of this oil and gas block from the Indonesian government for the 2023-2043 period.

    After obtaining confirmation of the Jabung WA contract extension at the end of 2021, PetroChina immediately submitted a program to drill 11 development wells in 2022. PetroChina also added three development well programs this year, bringing the total drilling to 14 locations.

    In addition, PetroChina also started field trials for the CO2 Injection Huff & Puff program at the Gemah 6 well, and high-performance water-based mud for the Gemah-69 and Panen-D13 wells at the end of this year.

"Over the next 20 years, we are committed to carrying out various exploration, development, and maintenance programs for production facilities," said PetroChina President Director Qian Mingyang.

Qian Mingyang

    The 'Drilling Campaign 2022' development program in 14 locations began January 21 with the first drill in the Panen-D10 well. Furthermore, the same program was carried out in four wells in the Harvest Field, seven wells in the Gemah Field, one well in the West Betara Field, and one well in the Sabar Field.

    The drilling program in nine wells resulted in the initial production of 4,091 barrels of oil and condensate per day, as well as 28.6 million standard cubic feet per day (MMSCFD) of crude gas. 

    The other five wells are still in the completion stage and are estimated to produce an initial total production of 2,717 barrels of oil and condensate per day, as well as 7.4 MMSCFD of crude gas.

"The promising initial production results prove that Jabung still has the potential to be developed in the future. PetroChina will continue to look for prospective wells candidates in the Jabung area for development programs in the coming years," said Qian.

    In 2023, PetroChina plans to drill 2 exploration wells and 11 development wells in the Jabung block. The drilling of 2 exploration wells will be carried out in the NEB (North East Betara) field, while 11 development wells will be carried out in 6 previously developed fields such as South Betara, NEB, Panen, Gemah, Sabar, and West Betara.

    Currently, Jabung is one of the best-performing oil and gas working areas in the country. This work area was first operated in 1993 through the signing of a Production Sharing Contract (PSC) for a period of 30 years. This block, which is located in Jambi Province, recorded its first oil discovery in the North Geragai Oil Field in 1995, and its first production in 1997.

    PetroChina took over the management of Jabung CA from Devon Energy in 2002 and works under the supervision and control of SKK Migas. In managing the Jabung Working Area, PetroChina partners with PT Pertamina Hulu Energi Jabung, PT GPI Jabung Indonesia, and Petronas Carigali (Jabung) Ltd. (eng).

    Since 2006 until now, PetroChina has managed to maintain a stable average daily production above 50,000 barrels of oil equivalent per day (BOEPD). Until September this year, Jabung had produced a total of 399.01 MMBOE of oil, condensate, LPG, and gas sales. In addition to an aggressive development program, 2022 will also mark several implementations of new technology in Jabung.


Investor Daily, Page-10, Thursday, Jan 5, 2023

Corruption Eradication Bureau Investigate BP's Gas Sale and Purchase Contract

    The government has approved the extension of the Tangguh Cooperation Contract (KKS Tangguh) to BP as the operator and partner of the Tangguh PSC for 20 years, from 2035 to 2055. 

    The Tangguh project, which is being worked on by contractors (KKS) Berau, Muturi, and Wiriagar, produces liquefied natural gas (LNG).

    It's just that this contract extension was given earlier, giving rise to a polemic. Before his abdication, President Jokowi's administration was considered to be selling out contract extensions to a number of jumbo companies in order to guarantee long-term investment.

    Economist for Celios, Bhima Yudhistira, considers it strange to extend the contract earlier. Moreover, the contract extension occurred before the 2024 general election, causing various speculations.

    Deputy for Prevention of the Corruption Eradication Commission (KPK) Pahala Nainggolan revealed that his party had not received any news regarding the extension of the operating permit that had been granted. Even so, the KPK will explore the details of the gas sale and purchase contract in question.

Blogger Agus Purnomo in SKK Migas

    The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) confirmed that BP Berau Ltd's contract extension had complied with regulatory requirements. Head of SKK Migas Dwi Soetjipto explained, there are a number of provisions that allow for earlier contract extensions.

    Dwi said that a number of provisions included the commitment of a gas buyer as well as the potential for exploration and development. Acting Head of SKK Migas Program and Communication Division, Mohammad Kemal, said that BP Berau has the commitment to buy and sell gas, both in the domestic and foreign sectors.

"There are domestic buyers, namely the State Electricity Company (PLN), while exports are sold to China, Japan, and Korea," said Kemal.

    Kemal said that if you refer to the provisions, then the acceleration of the extension can be carried out if the Cooperation Contract Contractor (KKKS) has a Head of Agreement (HoA) or a letter of intent (LOL) to buy gas during the contract period. 

    Referring to the provisions of Minister of Energy and Mineral Resources Regulation No. 23/2021 concerning the Management of Oil and Gas Working Areas for Cooperation Contracts that Will End, contract extensions may be given earlier.

    In Article 4 Paragraph 3 of the regulation, it is stated that the application for a contract extension is submitted no earlier than 10 years and no later than 2 years before the contract ends. As for Article 4 Paragraph 4, requests for contract extensions can be faster than the 10-year time limit for contractors who are bound by a natural gas sale and purchase agreement. 

    The next paragraph states that the natural gas sale and purchase agreement includes a letter of intent, memorandum of understanding (MoU), head of agreement (HoA), or sale and purchase contract.

    BP's Tangguh PSC actually expires in 2035. Applications for contract extensions can generally be submitted no earlier than 10 years before the contract period ends or 2025. 

    BP Berau signed an amendment to the Gas Purchase Agreement (PjBG) with PLN in 2016. This is a follow-up amendment from the signature on October 17, 2014.

    The government has approved the extension of the Tangguh Cooperation Contract (KKS Tangguh) to BP as the operator and partner of the Tangguh PSC for 20 years, from 2035 to 2055. The Tangguh project, which is being worked on by contractors (KKS) Berau, Muturi, and Wiriagar, produces Liquified Natural Gas (LNG).


Kontan, Page-12, Tuesday, Dec 27, 2022

Wednesday, December 28, 2022

BP Brings Additional Investment

    The upstream oil and gas industry received good news from the extension of the Tangguh cooperation contract for 20 years because it presents an additional investment commitment of up to US$4.6 billion.

    The extension of the Cooperation Contract (PSC) for the Tangguh block allows BP and its partners to develop the Tangguh Liquefied Natural Gas (LNG) project until 2055. The Tangguh PSC area itself includes Wiriagar, Berau, and Muturi in Bintuni Bay, West Papua.

    In the Tangguh LNG Project, BP acts as the operator with a 40.22% ownership stake. Then MI Berau BV 16.3%, CNOOC Muturi Ltd. 13.90%, Nippon Oil Exploration (Berau) Ltd. 12.23%, KG Berau Petroleum Ltd. 8.56%, KG Wiriagar Petroleum Ltd. 1.44%, and Indonesia Natural Gas Resources Muturi Inc. 7.35%.

    Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif asked BP to immediately complete the Tangguh Train 3 Project, which is one of the national strategic projects in the upstream oil and gas sector. Because natural gas is considered a commodity that has an important role in the energy transition period towards net zero emission in 2060. 

    The extension of the Tangguh Cooperation Contract (PSC) also makes the availability of LNG to meet domestic and export needs more secure.

    Arifin Tasrif said we believe that gas will have an important role in achieving this target. Indonesia has great potential to produce gas in the future, therefore the government asks contractors to work together and develop the resources," said Arifin Tasrif.

    According to him, the government will support all efforts made by Cooperation Contract Contractors (KKKS) to optimize domestic resources. This also makes the government more open to cooperation in the management of upstream oil and gas in the country. For information, the Tangguh Train 3 Project is projected to be able to go onstream in the first quarter of next year.

    The target is that the project will produce 700 million standard cubic feet per day (MMSCFD) of gas and 3,000 barrels of condensate per day. 

    The investment required for the Tangguh Train 3 Project is estimated at US$8.9 billion. The Tangguh LNG project started in 2009 and has shipped more than 1,450 cargoes from the two LNG production trains that are currently operating, with a production capacity of up to 7.6 million tonnes of LNG per year.

Blogger Agus Purnomo in SKK Migas

    Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto said that, in addition to providing certainty of gas supply, the extension of the Cooperation Contract (PSC) for the Tangguh block will also bring in an additional investment commitment of up to US$4.6 billion. In addition, it is also projected that the state will receive revenues of up to US$5.5 billion from 2035 to 2055.

"This contract extension also has a positive impact in the form of a contribution in driving the national and regional economies, as well as other multiplier effects," he said.

    According to him, the extension of the cooperation also reflects the government's commitment to continue to create a conducive investment climate, as well as provide certainty for investment activities in Indonesia. Moreover, Tangguh has been the largest gas producer in Indonesia, where around 20% of domestic gas production comes from the project. 

Anja-Isabel Dotzenrath

    Anja-Isabel Dotzenrath, BP Executive Vice President of Gas & Low Carbon Energy, said that the contract extension provides an opportunity for her party to continue the work that has been carried out together with the government and SKK Migas.

“This extension helps open up new opportunities for Tangguh's future,” said Anja-Isabel Dotzenrath.

    Anja-Isabel Dotzenrath said BP has a strong commitment to continuing long-term cooperation to meet energy needs in Indonesia.

"We look forward to further cooperation with Indonesia and our partners in the coming years," said Anja-Isabel Dotzenrath. 

Kathy Wu

    Meanwhile, BP Regional President Asia Pacific, Gas & Low Carbon Energy Kathy Wu said that the contract extension received by his party allows the company to continue accelerating domestic upstream oil and gas exploration activities.

"With the addition of our new blocks in Indonesia, this all shows our trust in the Government of Indonesia in continuing investment, and presenting various solutions to energy needs," said Kathy Wu.

    Apart from currently developing the Tangguh Train 3 project, BP and its partners have also started the Tangguh UCC Project which includes the development of the Ubadari Gas Field, enhanced gas recovery (EOR) through carbon capture, use, and storage (EGR/CCUS) in the Vorwata field, as well as onshore compression.

    Apart from the Tangguh LNG Project, BP also has interests in the Andaman II Block, as well as the Agung I and Agung II Blocks.

Gas needs

    On a separate occasion, the International Energy Agency (IEA) projects that gas power plants will still grow to replace the coal-based steam power plant (PLTU) in the net zero emission scenario.

    Until 2035, IEA predicts that gas will still be used to bridge the transition of global energy, especially when the transition from PLTU to new and renewable energy-based power plants (EBT). 

    In its research, the Reforminer Institute noted that the development of gas-based power plants has a number of advantages, such as capacity factor which is quite high and becomes one of the base load power plants, investment costs per megawatt (MW) for gas-based power plants are cheaper compared to the electric steam power plant (PLTU), geothermal power plant (PLTP), and Nuclear Power Plant (PLTN)

    Komaidi Notonegoro, Executive Director of the Reforminer Institute, said that oil and gas still have an important role in the Indonesian primary energy mix, and are projected to still be important up to 2050.

"Oil and gas shares in the Indonesian primary energy mix 2021 are around 51%, and in 2050 shares are projected to still around 44% of the total Indonesian primary energy consumption," he said.

    According to him, the National Energy General Plan (RUEN) also projects natural gas in the Indonesian primary energy mix in 2050 to be around 24%, the second largest after EBT. 

    From 2012-2021, the portion of gas utilization for domestic purposes increased by an average of around 1.50% per year.

    The industrial and fertilizer sector is recorded as a major contributor to increasing domestic natural gas consumption.

"The discovery of Indonesian oil and gas reserves in 2020-2021 was also dominated by natural gas, such as discoveries in Bronang-02, Wes EEL, Parang-02, Rembang-3B, and Wolai-02. 

    Candidates for the National Strategic Project of the Energy Sector 2020-2024 are also dominated and related to the use of natural gas, "he said.

    This makes natural gas have a more important role as a bridge in the implementation of fossil energy transitions to EBT. 

    Sugeng Suparwoto, Chairperson of Commission VII of the People's House of Representatives (DPR), said that oil and gas will still be an important sector of economic growth in Indonesia. For this reason, the government must think of ways to reduce emissions produced by fossil energy.

    He explained that the portion of EBT in the energy mix in 2050 was projected to be only 31%. That is, the remaining 69% will still be filled by fossil energy, fuel oil, coal, or natural gas.

"The world is also currently very dependent on fossil energy. This can be seen from OPEC+ which still produces around 100 million barrels of oil per day, "he said in an energy transition forum.

In an effort to reduce emissions from the oil and gas industry, the government can issue regulations related to the quality of fuel oil that is low in carbon and sulfur. That way, carbon emissions can still be reduced, without having to sacrifice the industry that has been a source of state revenue.

According to him, the upstream oil and gas industry must continue the exploration and exploitation of existing resources to ensure the meeting of community energy needs. 

    It's just that later the oil and gas produced should no longer become primary energy, but be processed into petrochemical derivative products.

    The reason is that Indonesia is still importing petrochemical products in very large quantities. During this time, only the fertilizer industry utilizes natural gas as raw material in the process of fertilizer production. 

    Another step that can be done is to optimize the use of natural gas as intermediate energy because the commodity is lower emissions. In addition, the use of natural gas can also reduce the import of liquefied petroleum gas (LPG) which has been burdening the state budget.

"The government must also be consistent in efforts to increase national oil and gas production, because until now there are still around 68 oil and gas basins that have not been managed, and most are natural gas," he said.

Bisnis Indonesia, Page-4,Monday, Dec 26, 2022

Tuesday, December 13, 2022

The government wants to accelerate the Masela Gas Project

    Commission VII of the House of Representatives (DPR) of the Republic of Indonesia summoned SKK Migas and Inpex Corporation in a closed Working Committee Meeting, Monday (December 12). One of the points discussed at the meeting was the acceleration of the Abadi Masela project.

the Abadi Masela project

    When met at the DPR Building, Inpex's management was reluctant to comment on the discussions at the meeting. The Council also cannot provide an overview regarding the preparations for the Masela project in the near term.

Blogger Agus Purnomo in SKK Migas

    Deputy for Development Exploration and Management of the SKK Migas Work Area, Benny Lubiantara, gave a brief description. One of the discussions discussed in the Working Committee is how to speed up the Masela project so that it starts immediately.

"The head of SKK Migas Dwi Soetjipto said that this project is taking place in parallel, so there is no waiting for more, so activities will begin immediately in early 2023," said Benny Lubiantara.


    While waiting for Shell replacement, which is processing the sale of its 35% participating interest, Benny explained, a number of other activities in the Masela Block are still taking place in parallel. One of them includes Carbon Capture Storage (CCS) and Carbon Capture Utilization and Storage (CCUS) technologies in the Plan of Development (PoD) plan.

"The study already exists, it must go forward," said Benny Lubiantara.

    Regarding the value of Shell's Participating Interest (PI) that is being bid by Pertamina, Benny could not comment. Benny said the PI valuation was based on a business-to-business (B2B) process between Shell and Pertamina.

    Head of SKK Migas Dwi Soetjipto hopes that in December 2022 the revision of the PoD which already includes the implementation of CCS/CCUS will be entered soon.

"Based on the results of a study regarding the CCS/CCUS facility that will be implemented in the Abadi Masela Block, it requires an investment of US$ 1.2 billion to US$ 1.3 billion," said Benny.

    Not long ago, BUMN/State-Owned Enterprise Deputy Minister Pahala Nugraha Mansury said that the due diligence process for Pertamina's takeover of Shell's 35% participating interest in the Masela Block could be completed in the first quarter of 2023. According to Nugraha Mansury, the due diligence process will be followed by the submission of a binding offer by Pertamina to be evaluated by Shell.

Kontan, Page-12, Tuesday, Dec 13, 2022

Saturday, December 10, 2022

Forbes Selects Nicke Widyawati Again in the List of 100 Influential Women in the World

    Main Director of PT Pertamina (Persero) Nicke Widyawati is back on the list of 100 world's most powerful women (The World 100 Most Powerful) Women) Forbes for 2022. Nicke is one of two Indonesian women who are included in this list. 

Forbes #49 Nicke Widyawati

    She is ranked 49th and the Minister of Finance of the Republic of Indonesia, Sri Mulyani, is ranked 47th. 

Forbes #47 Sri Mulyani

The top position is held by the President of the European Commission, Ursula von der Leyen.

Nicke Widyawati

    Forbes explains that the list is determined by four main metrics, namely income, media, impact, and sphere of influence.

“For political leaders, we weigh gross domestic product and population; for company leaders, revenue and number of employees; and the media mentions and reaches all. The result is a collection of women who are challenging the status quo,” wrote Forbes.

    Because Pertamina is a state-owned company, Nicke as the female Main Director is considered capable of leading a company that supports the decisions of the Indonesian government. 

    Forbes also stated that Pertamina is the largest gas importer in Asia. The Main Director of PT Pertamina (Persero), Nicke Widyawati, assessed that this recognition was inseparable from the support of all management and workers.

"I am grateful and thankful for the good judgment and recognition from the international community. This is the result of Pertamina's collaboration with all stakeholders, and will be a motivation to be even better going forward," said Nicke.

    In addition, when Indonesia hosted the G20 Presidency, Nicke served as Chair of the B20 Energy, Sustainability & Climate Task Force. Apart from Nicke Widyawati, other names from the energy sector were listed including Catherine MacGregor from the French energy company Engie, Sinead Gorman who is the CFO of Shell, and Lynn Good from the US energy company Duke Energy. Nicke has previously been included in Fortune and Forbes lists of internationally influential women in 2020 and 2021.

Investor Daily, Page-9, Saturday, Dec 10, 2022