ASIATODAY.ID, JAKARTA – The Indonesian Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has invited the Thai company, PTT Exploration and Production Limited (PTTEP) to invest in Indonesia again. This invitation was conveyed by SKK Migas when attending the Future Energy Asia 2024 exhibition and summit at the Queen Sirikit National Convention Center, Bangkok-Thailand, on 15-17 May 2024.
At this event, the Head of SKK Migas Indonesia, Dwi Soetjipto accompanied by the Head of the Oil and Gas Prospectivity & Work Area Data Management Division met with a number of directors from PTTEP in a separate location.
Dwi said the maneuver was a proactive step from SKK Migas to invite potential investors in terms of capability and funding to invest in Indonesia’s upstream oil and gas industry.
“PTTEP has a track record of investing in Indonesia, although so far it has not provided encouraging results,” said Dwi in a press release, Thursday, May 30 2024.
Dwi hopes that PTTEP can return to investing in Indonesia after improving the current investment climate in the upstream oil and gas sector.
“Through direct explanations regarding the increasingly conducive and competitive upstream oil and gas investment climate, we hope that PTTEP will return to invest in Indonesia,” said Dwi at the meeting.
The Indonesian government’s collaboration with PTTEP has quite a long history. PTTEP has operated two exploration work areas in Indonesia, namely the Malunda Work Area and the South Mandar Work Area. PTTEP has invested more than US$130 million in oil and gas exploration.
PTTEP in terms of exploration activities is an active and aggressive contractor. For these two work areas, several study activities have been carried out and around 3,000 square kilometers of 3D seismic acquisition and processing activities have been carried out. However, these activities have not produced results and PTTEP has had to hand over the two work areas back to the Indonesian government.
On the other hand, Dwi said, PTTEP has expressed its interest in investing in and operating oil and gas working areas in Indonesia as well as farming in the oil and gas portfolio in Indonesia.
“As a follow-up to the meeting, SKK Migas has coordinated with the Coordinating Ministry for Maritime Affairs and Investment, and currently SKK Migas has received the green light to technically discuss existing opportunities in Indonesia with PTTEP,” he added.
PTTEP is expected to focus on looking at potential areas in the Sumatra, East Java and Kutai regions.
Previously, PTTEP had collaborated with SKK Migas to conduct regional studies. (ATN)
Follow Us at Google News and WA Channel