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

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has secured an agreement with several stakeholders to accelerate the development of new oil and gas drilling projects in Central Java. SKK Migas Head Djoko Siswanto stated that the agreement was signed during a working visit to Bojonegoro, involving local government heads and other relevant parties. The deal paves the way for land provision to support the drilling of new wells. The projects include the KKW well operated by ExxonMobil Cepu Ltd in Bojonegoro, the BGE-1 well operated by PT Pertamina EP in Bojonegoro, and the RBG-5, RBG-6, and RBG-7 wells operated by a TIS contractor in the Demak and Grobogan areas. Collectively, these projects are estimated to hold potential reserves of 23 million barrels of oil and 1.5 trillion cubic feet (TCF) of natural gas, with expected production rates of approximately 35,000 barrels of oil per day and 450 million standard cubic feet of gas per day. Djoko expressed hope that the drilling could commence as soon as possible.