New Partnership for the Mogoi Wasian Block: How Big is the Potential?

By Editorial Team 26/09/2023
Blok Magoi
Summary

PT Pertamina EP and PT Petro Papua Mogoi Wasian have signed a memorandum of understanding with Tunhua International Group Co Ltd and JSK Gas to develop the upstream and downstream sectors of the Mogoi and Wasian working areas in Papua. This collaboration is expected to boost the oil and gas production in the region and contribute to the national oil lifting. Pertamina EP announced this new investment plan on Sept 25.

Pertamina EP has been partnering with Petro Papua Mogoi Wasian since 2014 under a Cooperation Operation Agreement (KSO) for 20 years. The Mogoi and Wasian Blocks are projected to support the industrial growth in Papua and its surroundings with their oil and gas output.

This new partnership plan aims to produce 2–3 million barrels of crude oil per year for 15 to 20 years, 2 million barrels of condensate per year for 25 years, 80,000 Million Metric Square Cubic Feed per Day of gas per year, and 1.5 million Tons of LNG per year. These commodities will be used for gas power plants, nickel smelters, and PLN.

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