JAKARTA. Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has approved the plan of development (POD) for MBF Field in Madura Strait Work Area. It would be operated under Husky CNOOC Madura Limited with an investment of USD 88 million or IDR 1.3 trillion.
This investment would surely boost the East Java and national economy,” Julius Wiratno, the Acting Deputy of Development of SKK Migas.
According to idnfinancials.com data, Husky-CNOOC Madura would manage potential gas reserves of 38.04 billion standard cubic feet. The approved POD includes the development-well drilling of MBF-A1 and MBF-A2, the construction of Well Head Platform, the pipeline construction leading to the production facility, and the modification of facilities in the field.
Wiratno claims that the approval of the POD for MBF Field in Madura Strait Work Area poses a positive impact on the national Reserve Replacement Ratio (RRR) in July 2021. RRR was previously reported at 21.1% in June 2021, with a proven reserve of oil and gas upstream of 131.2 million barrels of equivalent per day (MBOEPD).
“With the approval of POD for MBF in Madura Strait Work Area, RRR climbs to 22%,” Wiratno adds. (KR/ZH)