Huge Oil and Gas Potential in North Bali

A recent article posted by the editorial team of D-Insights looked at the huge potential for gas resources in North Bali. According to D-Insights, the Director General of Oil and Gas at the Ministry of Energy, Tutuka Ariadji said the gas potential in the area reaches 4 to 5-trillion cubic feet (TCF), adding that this figure was almost the same as the North Ganal Block worked on by Eni, which is offshore of East Kalimantan and the Andaman II Block managed by Harbour Energy, off the coast of Aceh in North Sumatra.

D-Insights say that their view is that the large potential of oil and gas content in North Bali is one of the priorities of the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) in encouraging production and increasing national oil and gas reserves.

In line with the Ministry of Energy and Mineral Resources estimates, SKK Migas projects that gas reserves off the coast of North Bali could reach half of the Masela Block. The Masela Block, in Maluku’s Arafura Sea, is known to have potential gas reserves of up to 18.5 TCF and 225-million barrels of condensate. The gas production is estimated at 10.5-million tons per year.

According to D-Insights, in addition to being exported, production from some oil and gas fields in North Bali will be channeled to support energy supplies in Java, as well as Bali and Nusa Tenggara, and aligns with the government’s plan to increase gas power plants, which have lower emissions than coal power plants. It also includes industrial and household energy sources. Apart from power plants, however, it is not yet sure what business sectors become the potential consumers of gas fields around North Bali’s offshore potential.

In the offshore of North Bali, BP already manage two working areas: Agung I and Agung II. BP won the auction for these working areas in the second phase of the 2021 auction. The Agung I block covers an area of 6,656-square kilometers, which includes deepwater off Bali and East Java.

The Agung II block extends from North Bali to the deepwater basins off South Sulawesi, West Nusa Tenggara, and East Java, covering an area of 7,970-square kilometers. The potential in this area may increase after BP conducts 3D seismic and 2D seismic tests in 2023 to 2024.

D-Insights write that reserves off the coast of North Bali will add to gas supplies in the next decade. With all the discoveries in the past two years, SKK Migas and the Ministry of Energy and Mineral Resources estimate that the gas surplus could reach 1,715-million metric square cubic feet per day (MMSCFD), with proven reserves reaching 41.62 TCF.

 

Source: D-Insights

 

 

 

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