Indonesia Eyes 35,000 BPD Oil Boost from New Wells

The head of Indonesia’s upstream oil and gas regulator, SKK Migas, Djoko Siswanto, has announced a breakthrough agreement following a working visit to Bojonegoro, aimed at accelerating the development of several oil and gas drilling projects. The joint agreement was signed by the Chief of the Presidential Staff Office, the Regent of Bojonegoro, the Regent of Demak, the Regent of Grobogan, and other officials. This agreement provides the basis for supporting land acquisition for the drilling of several oil and gas wells, including the KKW well operated by ExxonMobil Cep Ltd in Bojonegoro, requiring 0.6 hectares of land, the BGE-1 well operated by PT Pertamina EP, requiring 3.5 hectares in Bojonegoro, and the RBG-5, RBG-6, and RBG-7 wells operated by TIS, requiring 4.4 hectares in the Demak and Grobogan regencies. The total potential reserves from these projects are estimated at 23 million barrels of oil and 1.5 trillion cubic feet of gas, with a potential production of around 35,000 barrels of oil per day and 450 million standard cubic feet of gas per day.