The Indonesian Upstream Oil and Gas Special Task Force (SKK Migas) has unveiled farm-in investment opportunities for 12 domestic oil and gas blocks to global investors at the 2024 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). Partnering with Production Sharing Contractors (KKKS), SKK Migas showcased Indonesia’s energy potential at the Indonesia Pavilion under the theme “Unlocking Potential, Increasing Production in a Sustainable Environment.” According to Hudi Suryodipuro, Head of the SKK Migas Program and Communications Division, Indonesia's upstream sector holds significant opportunities with 68 unexplored basins. “We are offering 12 farm-in prospects ready for collaboration with global investors,” Hudi stated on Tuesday, November 5, in Abu Dhabi.
The 12 blocks available for farm-in as of October 2024 include four exploration and eight exploitation blocks. Key exploration blocks include Andaman I (Mubadala Energy), North Sokang (Medco Energi Natuna Timur), Bobara (Petronas E&P Bobara Sdn. Bhd.), and Sakti. The exploitation blocks cover areas such as Raja/Pendopo, Palmerah (Tately N.V), Ogan Komering (Pertamina Hulu Energi Ogan Komering), Offshore Duyung (West Natuna Exploration Ltd.), Brantas (Minarak Brantas Gas Inc.), South East Madura (Energi Mineral Langgeng), Simenggaris (Medco E&P Simenggaris), and Tarakan Offshore (Manhattan Kalimantan Investment Pte. Ltd.). To attract international investors, Hudi noted that the government has introduced attractive gross split sharing contracts, as per Ministerial Regulation No. 13/2024 and Decree No. 230.K/MG.01.MEM.M/2024. These regulations allow contractors to earn a profit share between 75-95%, compared to the previous gross split contracts that often fell below 50%.
