US Gives Up Digging for RI’s Giant Treasure in Natuna, Russia Enters!

Jakarta, CNBC Indonesia – The government is deemed necessary to welcome the plans of Russian oil and gas companies to enter into the management of the East Natuna Block. Especially after the company from the United States, namely ExxonMobil and PT Pertamina (Persero) gave up and said they would return the management of the giant gas field to the government.

Oil and Gas Practitioner and Chair of the ITB Petroleum Engineering Alumni, Hadi Ismoyo, thinks that in principle, anyone who is interested in managing the East Natuna Block, including Russian oil and gas companies, the government should roll out the red carpet.

This is because the development is not so easy. “ExxonMobil from the USA and Pertamina have already been given the opportunity and in the end a few years ago they returned it to the government due to commercial problems. So if now there are Russian oil and gas companies interested in entering, why not?” he told CNBC Indonesia, quoted Thursday (8/ 12/2022).

According to Hadi, the East Natuna block still has good prospects for development. There are at least two things that make the East Natuna Block worth developing.

First, East Natuna has the potential to reach 222 trillion cubic feet (TCF). However, due to the large content of carbon dioxide (CO2) in this block, which reaches up to 71%, only 46 TCF of gas can be exploited.

Secondthe use of technology to reduce carbon emissions through Carbon Capture Storage (CCS)/Carbon Capture Utilization and Storage (CCUS). This is because the aquifer in the East Natuna Block has a large reservoir and can be used as CO2 storage in the future.

“Incidentally the location is strategic for LNG Carrier crossings from the Middle East to the Far East, China, Korea and Japan. Where if the technology allows it, the tanker can be filled with liquid CO2 from the Far East and reinjected into the Natuna East aquifer. Indonesia gets the business by leasing storage in Natuna East,” he said.

Previously, Head of SKK Migas Dwi Soetjipto gave the code that more and more investors wanted to work on the East Natuna Block. Most recently, Russia was attracted to enter the East Natuna Block through a state-owned oil and gas company, namely Zarubezhneft.

Previously, a State-Owned Enterprise (BUMN) from Malaysia, Petroliam Nasional Berhad or Petronas, was also interested in developing the East Natuna Block. “Indeed, they are interested. I think that in East Natuna, many interested from Malaysia are also interested. The Russian one is probably almost the same, which is now almost involved in the Tuna Block (Zarubezhneft),” Dwi said when met at the Ministry of Energy and Mineral Resources Building, Monday (5/12/2022) .

[Gambas:Video CNBC]

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