JAKARTA. Oil and gas exploration activities during the first quarter (Q1) 2020 produced positive results, after the discovery of 136.5 million barrels of oil equivalent (BOE) reserves in three oil and gas fields.
Dwi Soetjipto, Head of SKK Migas, said the discovery was made by Texcal Mahato, Medco E&P, and Pertamina EP. In details, 61.8 million barrels of oil reserves were found in the Mahato Block PB-2 exploration well, then 79 billion cubic feet of gas (BCFG) were found in the Bronang-2 well, and 333.6 BCFG were found in Banggai.
"I hope the cooperation contract contractors (KKKS) will immediately propose a plan of development," explained Soetjipto through an official statement.
During the Q1 2020, the Ministry of Energy and Mineral Resources recorded that the reserve replacement ratio (RRR) in Indonesia had increased to 47.5 million BOE, supported by the discovery of reserves in the West Natuna OPLL Field. (KR/AR)