Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mencatat, realisasi lifting minyak pada Semester 1 tahun 2024 mencapai 576 ribu barel minyak per hari (BOPD). Capaian tersebut dibandingkan target APBN 2024 sebesar 635 ribu BOPD. Selain itu, capaian lifting minyak juga lebih rendah dibandingkan target Work Program and Budget yang ditetapkan 589,5 ribu BOPD.
Adapun realisasi lifting gas pada Semester 1 tahun 2024 tercatat sebesar 5.301 juta standar kaki kubik gas per hari (MMSCFD). Capaian tersebut juga lebih rendah dari target APBN 2024 yaitu 5.785 MMSCFD, serta lebih rendah dari target dalam Work Program and Budget sebesar 5.443 MMSCFD.
Adapun realisasi lifting gas pada Semester 1 tahun 2024 tercatat sebesar 5.301 juta standar kaki kubik gas per hari (MMSCFD). Capaian tersebut juga lebih rendah dari target APBN 2024 yaitu 5.785 MMSCFD, serta lebih rendah dari target dalam Work Program and Budget sebesar 5.443 MMSCFD.
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TVTranscript
00:00Indonesia's Oil and Gas Industry
00:14Yes, Mr. Mirsa.
00:15The government has been trying to increase the production of oil and gas
00:19to meet the national energy needs.
00:22Although the lifting of oil prices is declining,
00:24the discovery of Jumbo's new source of gas
00:27is a fresh opportunity for Indonesia's oil and gas industry.
00:33The Special Task Force for the Implementation of Oil and Gas Industry
00:37or SKK Migas,
00:38recorded the lifting of oil prices in the first quarter of 2024
00:42to 576,000 barrels of oil per day or BOPD.
00:47This achievement is lower than the 2024 APBN target of 635,000 BOPD.
00:54In addition, the achievement of lifting oil is also lower
00:56than the Work Program and Budget target,
00:58which is set at 589,500 BOPD.
01:03There was also the implementation of lifting gas in the first quarter of 2024,
01:06recorded as large as 5,301 million standard cubic feet of gas per day or MMSCFD.
01:14The achievement is also lower than the 2024 APBN target,
01:17which is 5,785 MMSCFD,
01:21and lower than the target in the Work Program and Budget as large as 5,443 MMSCFD.
01:28Although the fresh wind is blowing from Hulu Gas Bumi,
01:31along with the emergence of the discovery of a large-scale new source of natural gas,
01:35alias Jumbo, in a number of regions.
01:37The discovery of natural gas reserves,
01:39including the discovery of natural gas reserves in the North Ganal Work Area,
01:42the North Gang 1 well, East Kalimantan,
01:45then the Timpan 1 well, Andaman 2 block,
01:48and the exploration well of Layaran 1 located in the Andaman salt block,
01:52so it is expected to make investors and potential gas investors in the water more enthusiastic.
01:58Recently, the Ministry of Energy and Mineral Resources
02:01officially issued a new regulation on the contract scheme for the growth split results
02:05in the Hulu Oil and Gas Bumi business.
02:08There are also policies aimed at increasing the competitiveness of investment in the Hulu Gas sector,
02:12as well as setting new regulations on the additional mechanism for the result presentation
02:17for the Contractor-Partnership Contract or KKKS Hulu Gas.
02:22The policy is based on the Ministerial Regulation No. 13 of 2024
02:27on the contract for the growth split results,
02:29which was invited and took effect on August 12, 2024.
02:34Jakarta, coverage team, IDX Channel
02:37SKK Migas National Lifting
02:40Yes, Mr. Mirsa, to discuss our next interesting topic,
02:42related to SKK Migas' strategy to increase national gas lifting,
02:46we have been connected via Zoom with Mr. Hudi Suryo Dipuro,
02:50Head of the Program Division and SKK Migas Communications.
02:53Good morning, Mr. Hudi.
02:56Good morning.
02:57Yes, greetings.
02:58Greetings.
02:59Greetings also, Mr. Hudi.
03:00Thank you for your time.
03:03Let's start with the review of SKK Migas,
03:05related to the condition of the Hulu Gas sector in Indonesia.
03:08What is it like now, sir? Please.
03:11Okay, thank you, Mr. Pras.
03:13So, on the side of Hulu Migas itself,
03:18the current condition is,
03:20Alhamdulillah, with the discovery of gas resources in South Andaman or in Prairan Aceh
03:26and also in North Gang or East Kalimantan,
03:29it has made Indonesia one of the countries
03:33with almost half of the earth's gas reserves in Southeast Asia.
03:38So, with the discovery,
03:41it increases the interest of investors to invest in Indonesia.
03:47But of course, we need to be supported by the right policies,
03:51especially in terms of fiscal incentives
03:54or related to how we monetize from the side of gas.
04:00This is actually for us to ensure the economic value of the project itself
04:05and also the smoothness of its investment.
04:07The condition of the Migas sector right now,
04:10Alhamdulillah, shows improvement,
04:12especially with the existence of new regulations
04:15aimed at increasing efficiency for investment,
04:19both in exploration and production.
04:22And of course, we will continue to monitor developments in the Migas fields
04:27to ensure that the national lifting target is achieved
04:31and also work programs that support the achievement of the lifting target
04:37can run according to the plan.
04:39Okay, looking at the developments,
04:41you have said that it has been completed,
04:43how about the opportunities and challenges for our Migas industry in the future?
04:49The opportunities are very good, Mr. Pras.
04:51So, as I said earlier,
04:54in terms of exploration,
04:56which has been expected to push the growth of investment in us,
05:01in 2024, we target around USD 16 billion,
05:08where we see a potential for an increase of USD 17 billion
05:14for investment in the Migas industry itself.
05:18And with the existence of these discoveries and the increase in exploration,
05:23it will be pushed from the side of activities,
05:26especially related to exploration,
05:29both exploration and development exploration,
05:33work over and well service,
05:35and also how we can push the idle well and idle structure
05:43to be upgraded again,
05:45we can immediately monetize to be able to increase from the production side.
05:50And we also actually have the opportunity,
05:53where with the existence of government policies related to CCS and CCUS,
06:01and the hope for the future,
06:02we can also be the main CCS or CCUS hub in Southeast Asia.
06:10And with the existence of new government regulations,
06:15just recently related to the cross-plate with the PSC,
06:19where we have simplified the cross-plate itself,
06:22it gives flexibility related to our PSC contract.
06:28The challenges, of course, there are several challenges
06:31that we continue to coordinate with the parties or stakeholders,
06:37especially related to the issue of permits,
06:40bonds, PRLs,
06:44as well as the issue of taxation,
06:46namely land and surface tax.
06:49And of course, how we can push for fiscal incentives,
06:55both for IOR and MNK.
06:59And one of our challenges is also related to the issue of gas infrastructure,
07:04which can later, if not handled well,
07:08can affect the commercialization plan of the projects.
07:17And of course, we are coordinating with ministries related to this issue.
07:24Okay, those are some challenges and opportunities.
07:26What kind of monetization has been prepared?
07:29Are there any steps to speed up so that later
07:32our two gas reservoirs can be optimal, Mr. Hody?
07:39Of course.
07:40And this is honestly one of our transformation efforts at Pulau Migas,
07:48where in terms of decision-making or process alone,
07:54this is extraordinary, especially for the North Gang project,
07:58which is managed by NE Indonesia.
08:01After the findings we got in 2023,
08:05Alhamdulillah, on August 16,
08:09their development plan has been approved,
08:12which is in less than a year,
08:17from discovery to POD,
08:20it has become one of the extraordinary accelerations, Mr. Ras.
08:25In addition to that, from the POD results,
08:28and also from the results of several discussions with DNI,
08:32one of the targets that we are pursuing is
08:35for the project to be on-stream in 2027.
08:40So, it can be imagined that from 2023 to 2027,
08:45in four years, the project from discovery to on-stream,
08:50will be one of the best transformations,
08:57and this will be an example for us in the future,
09:03and other major projects,
09:06and this will also increase the appetite of investors.
09:09Regarding the development of the North Gang site itself,
09:13the plan will be...
09:17Yes?
09:19Okay.
09:22Okay.
09:23Mr. Hudi, I'm sorry.
09:24...to buy S4,
09:26and this will also be one of the North Hub,
09:32later there will also be a South Hub,
09:34where later the need will be to fill the fertilizer factory,
09:39and DATO's FIFA will also enter the LNG branch.
09:42Okay.
09:43So, what is it like, Mr. Hudi?
09:45Yes?
09:46So, what is it like?
09:47The findings of the Jumbo gas reserve
09:50are related to our investment world.
09:52Will it eventually become a new attraction for investors?
09:55Hold on, Mr. Hudi, we'll be right back.
09:58And, Mr. Mirza, make sure you're still with us.
10:16JUMBO GAS RESERVE
10:20Yes, thank you for still joining us in Market Review.
10:23Mr. Mirza, we will continue our discussion with Mr. Hudi,
10:26Head of Program Deficit and Communication at SKK Migas.
10:29Okay, Mr. Hudi, we will continue our discussion
10:31with the findings of the Jumbo Gas Reserve in Indonesia in 2023
10:36related to the attraction of investment in the Indonesian gas sector.
10:41Yes, that's right.
10:42So, it's not just the findings themselves,
10:47but also our efforts as ULUMIGAS
10:51to transform the monetization process itself.
10:56And, in our opinion, that is one of the main attractions for investors.
11:01Of course, with the discovery of two Jumbo gas reserves,
11:05as I said earlier,
11:07Indonesia is placed in the top rank for investors,
11:12especially for exploration activities in the deep sea.
11:16So, there have been several joint studies that have been carried out.
11:20Okay.
11:21And that also includes the Seven Sisters
11:26who may have left Indonesia before
11:30and now they also see the potentials
11:35that exist in Indonesia related to the deep sea.
11:40And also, especially, as I said earlier,
11:44there is a very good potential related to CCS and CCUS.
11:48Some foreign investors are also turning to Indonesia
11:53for further investment,
11:56especially in the CCS and CCUS projects.
11:59Okay, that's it from our earth gas sector
12:01that has found a Jumbo gas reserve.
12:03So, what about our earth gas?
12:05Do you think there is still a big potential
12:09that we tend to miss from our earth gas lifting?
12:12Mr. Hudi.
12:14Yes, of course, from the earth gas side,
12:18it's still a challenge.
12:20Because, coincidentally,
12:23in the last few years,
12:26we have been bigger in the discovery of gas reserves.
12:31Okay.
12:32However, in accordance with the wishes of the government and the minister,
12:36we continue to strive for lifting.
12:40From the side of the existing reserves,
12:44of course, we have four strategies in SKK Migas
12:49to improve the lifting itself.
12:52The first three are related to the reserves that we already have.
12:56We are improving existing value,
12:59transformation resource to production,
13:01and of course, we need exploration for discovery.
13:05Well, our main improvement is
13:08how we will chase,
13:10in the last two years,
13:12almost 1,000 wells.
13:14And next year, we will also try to chase
13:18around 1,000 wells too.
13:20Of course, in some things,
13:23we also reactivate,
13:25as I said earlier,
13:26the Idlewell and also the acceleration of chemical EOR,
13:30especially in the Rokan area.
13:32And for the future,
13:34right now, we are pushing SKK Migas
13:36to manage more than 120 projects.
13:39Okay.
13:40Right now, for the future,
13:42and we will push so that the projects will be on time,
13:47so that we can immediately make a contribution.
13:49Including 15 that we are managing this year.
13:52Ah, that's it.
13:53Lastly, the Ministry of State has recently issued a new regulation
13:56regarding how the growth split
13:59and the activities of Hulu Migas,
14:01does it become a win-win solution for the government
14:05and business actors in the Migas sector?
14:08Of course.
14:10Because, anyway,
14:12if we talk about the business in Hulu Migas itself,
14:16it is related to the friendly investment environment,
14:21it becomes one of the determining factors for them.
14:24What is clear from our side,
14:27related to this latest growth split,
14:29there has been a simplification of the number of components from 13,
14:33now it's only 5.
14:36And this is also for the total,
14:39for the results to be competitive,
14:41it is based on the funds,
14:42especially related to non-conventional oil,
14:46it can reach up to 95%.
14:49This is because we need technology
14:52to be able to tap in to non-conventional oil.
14:56The parameters have also been perfected again,
15:00related to the field data,
15:03and also related to the rules and conditions
15:07for changes in the form of contracts
15:09that are very concerned about the economy of the field,
15:13so that it can ensure that the investment can run well
15:18if a change is needed.
15:22The principle is,
15:23the hope is that we can push for an increase in production and lifting
15:27with simplification and improvements.
15:30A new regulation is expected to increase the lifting of Indonesian oil and gas in the future.
15:34Okay, Pak Hudi,
15:35thank you very much for the time you have shared with the audience today.
15:39Congratulations on continuing your activities again.
15:41Good health, Pak Hudi. Thank you.
15:51Thank you, Pak Hudi.
16:21Thank you, Pak Hudi.
16:51Thank you and goodbye.