Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) head Dwi Soetjipto turns a handle on a gas pipe at a gas network installation in Gunung Sari Ulu, Balikpapan, East Kalimantan. (Photo: https://www.thejakartapost.com/) Jakarta (VNA) - The Upstream Oil and Gas Regulatory Task Force (SKK Migas) of Indonesia has announced the discovery of additional gas reserves in the South Andaman Sea that it claims could be among the biggest in the world.
Accordingly, Mubadala Energy, an Abu Dhabi-based oil and gas company, has found the gas deposit of potentially over 6 trillion cubic feet in Layaran-1, its first deepwater well in the Andaman Sea, about 100 kilometers off North Sumatra.
In a statement on December 19, Mubadala Energy CEO Mansoor Mohammed Al Hamed said this discovery is not just a significant development for Mubadala Energy but also serves as a historical milestone for Indonesia’s energy security.
SKK Migas head Dwi Soetjipto said this is the first time Indonesia has obtained two giant discoveries within the same year, Soetjipto said.
The Layaran discovery follows another gas found in Geng North-1 exploration well off the coast of East Kalimantan province in October, which has an estimated reserve of up to 5 trillion cubic feet.
Indonesia set a target to increase exploitation production to 1 million barrels of crude oil per day and 12,300 million standard cubic feet per day by 2030 to reduce its dependence on oil and gas imports.
However, this effort has encountered some challenges as Indonesia's oil wells are running out, while new reserves are hard to come by, and recent discoveries have only slowed the decline in output./.
