The joint study with the Karaeng Block will use the Sengkang Block Definite Work Commitment funds.
DOCK. CHEVRON
The Ministry of Energy and Mineral Resources (ESDM) states Energy Equity Epic (Sengkang) Pty.Ltd., will conduct a joint study in the Karaeng Block , South Sulawesi.The goal is to find oil and gas reserves in the work area.
Deputy Minister of ESDM Arcandra Tahar said the joint study would use the Sengkang Block Definite Work Commitment (KKP) fund.This is because the location of the Sengkang and Karaeng Blocks is adjacent.
The KKP fund management of the Sengkang Block is US $ 88 million.The Sengkang Block has expired in the coming 2022."Energy Equity Epic Sengkang supports the joint study there, because there is the potential they explore in Karaeng," he said at the Ministry of Energy and Mineral Resources, Jakarta, Tuesday (4/12).
Arcandra claimed to have visited to see the condition of the Karaeng Block during a work visit to Jeneponto, South Sulawesi in early November.The Karaeng Block is considered to have sufficient hydrocarbon reserve potential.
The Karaeng block was offered through the first phase of the oil and gas block auction this year.At that time the Karaeng block was one of the 19 oil and gas blocks offered with a regular auction mechanism.
This regular scheme means that the government prepares its data regarding oil and gas blocks.However, until the offer ends, no investor has made an offer for the Karaeng Block.
(Read: Government Extends Energy Equity in Sengkang Block with Terms )
When the block auction was opened earlier this year, the ESDM Ministry pegged the block signature bonus of US $ 500 thousand.The minimum definite commitment of the block consists of Geology & Geophysics (G & G) and two-dimensional (2D) seismic along 1,000 kilometers (km).
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