Indonesian Political, Business & Finance News

New Well Drilling Projects Agreed, Unlocking Potential 23 Million Barrels of Oil

| Source: CNBC Translated from Indonesian | Energy
New Well Drilling Projects Agreed, Unlocking Potential 23 Million Barrels of Oil
Image: CNBC

The Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), Djoko Siswanto, has revealed that his office has reached an agreement with several stakeholders to accelerate the development of numerous new oil and gas drilling projects in Central Java.

This agreement was reached during a working visit to Bojonegoro. The accord was signed by several parties, including the Head of the Presidential Staff Office (KSP), the Regent of Bojonegoro, the Regent of Demak, the Regent of Grobogan, and others.

“A joint agreement has been signed by the Head of KSP, the Head of SKK, the Director General of Land and Spatial Control of the Ministry of ATR/BPN, the Director of the Ministry of Agriculture, the Director of Upstream Oil and Gas, the Regent of Bojonegoro, the Regent of Demak, and the Regent of Grobogan to proceed with the drilling of wells,” Djoko stated in a written release on Tuesday (7/7/2026).

The agreement serves as the basis for supporting land provision for the drilling of several oil and gas wells, including:

  1. The KKW well, operated by the Contractee (KKKS) ExxonMobil Cepu Ltd in Bojonegoro, requiring approximately 0.6 hectares of land.

  2. The BGE-1 well, operated by the KKKS PT Pertamina EP, requiring approximately 3.5 hectares of land in Bojonegoro.

  3. The RBG-5, RBG-6, and RBG-7 wells, operated by the KKKS TIS, requiring approximately 4.4 hectares of land across the Demak and Grobogan regions.

The total potential reserves from these projects are estimated to reach 23 million barrels of oil and 1.5 trillion cubic feet (TCF) of natural gas, with a production potential of approximately 35,000 barrels of oil per day (bopd) and 450 million standard cubic feet of gas per day (MMSCFD).

“We ask for your support and prayers; God willing, everything will run smoothly and drilling can begin as soon as possible,” Djoko concluded.

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