Pertamina Has Not Made East Natuna Block as a Development Priority

By : Hariyanto And Aldo Bella Putra | Monday, January 22 2018 - 18:00 IWST

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INDUSTRY.co.id - Jakarta - PT Pertamina (Persero) still does not want to make East Natuna Block as a development priority in the near future. The reason is that the complexity of block technical issues combined with world oil price conditions is a factor affecting the sustainability of the blocks that have large potential gas.

Upstream Director of Pertamina, Syamsu Alam said after the dissolution of the consortium following the departure of Exxonmobil and PTT EP, the development of East Natuna is still waiting for new partners.

So far there are only two prospective partners who have volunteered for a joint study in a block located near the South China Sea.

"East Natuna I say that the consortium has been disbanded. Now looking for a consortium again, there are companies that have sent a letter to join us. So far only two," said Syamsu last weekend.

Seeing the level of difficulty in East Natuna, according to Syamsu, it would be better if the members of the consortium amount to a lot. The reason, when the price of oil is still around US $ 100 per barrel and split or for large returns for contractors is still not economical.

"The government split 0% Exxon 100%, they did not want to. We for develop in there is not easy because of technology. In the past, the price of US $ 100 per barrel is difficult, this is US $ 60 per barrel. Of the difficulties there, the more (the consortium) the better" he said.

Pertamina with the previous consortium actually had time to do Technology Market Review (TMR). The results of the TMR study will be continued after a new consortium. Pertamina ensures that should be studied is not about the economy, but the conditions subsurface field. After that new economy, such as volume and price of gas later.

"In essence we will start from subsurface, first if it is like that what kind of economic commercial. To be able to be commercial what should be done, including the price of gas and production volume like what," said Syamsu. (de / ri)