SKK Migas approves development plans of 18 fields

Upstream authority SKK Migas said that during the period of January-April 2016, it has approved development plans of 18 oil and gas fields in the country with total estimated investment of US$1.50 billion.

SKK Migas Head of Public Relations Taslim Z. Yunus said in a statement Sunday that the plans include plan of development (PoD), plan of further development (PoFD), and put on production (PoP). Production of the fields is expected to start between 2016 and 2020.

?As many as 16 fields are located in the western (region), while the remainders in eastern region. This shows that are not much activities in the eastern region despite the huge potential,? he said.

SKK Migas said that cumulative oil and condensate production from the 18 fields is estimated at 45 million barrels, while gas output is projected 271 bcf. Taslim said that state revenue is projected to reach $3.02 billion from the 18 oil and gas fields.

Editing by Reiner Simanjuntak