Pertamina Demands Higher Split Portion to Increase Oil and Gas Reserve

Summary

PT Pertamina has applied for higher split portions in several work areas they manage. The state-owned oil and gas holding argued that it could increase oil and gas reserve potentials in these blocks. The Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) Deputy for Planning, Jaffee Suardin, stated it could increase the oil reserve potential by 120 million barrels and 1.7 Tcf for the natural gas.

Besides, the extra portions can increase the economic viability of the field for more than 10 years. "The proposal for extra split portions has reached its final point, we are currently discussing it with the Energy and Mineral Resources Ministry because some things require the approvals of the ESDM Ministry," Jaffee revealed. SKK Migas has had long discussions with Pertamina to calculate the potential generated from the plan. Hopefully, the evaluation and negotiation process for additional split portions in several work areas can be completed within the next 1-2 months.

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