SKK Migas to soon conclude evaluation of Merakes POD-1
Friday, November 10 2017 - 01:35 AM WIB
Upstream authority SKK Migas said it is currently finalizing the evaluation of the first plan of development (POD-1) of the Merakes field in East Sepinggan block, offshore East Kalimantan, operated by Italian firm Eni SPA.
Wisnu Prabawa Tahar, Head of Formality and Public Relations Division at SKK Migas, said Friday that the evaluation process is expected to be concluded at the end of this year.
He said that once the evaluation process is completed, the POD-1 will be submitted to the Ministry of Energy and Mineral Resources for approval.
Eni is the operator of the East Sepinggan Block with an 85 percent interest, while the remaining 15 percent is held by Indonesian state-owned oil and gas firm PT Pertamina.
The company said in March it has completed post drilling studies on the Merakes-1 gas finding, which indicates significant upside gas potential.
Eni said that the new studies upgrade the potential of Merakes from previously estimated 1.3 TCF up to 2 trillion cubic feet (TCF) of gas in place. The company is seeking to fast track development of the finding, optimizing synergies with the nearby Jangkrik field, also operated by Eni, which started production in May of this year.
Editing by Reiner Simanjuntak