Pertamina to Work on ‘Big Fish’ Exploration Project in Malaysia

ANTARA

Pertamina will work on an oil and gas exploration project in Malaysia, namely in the SK510 field which is estimated to have the potential for large amounts of hydrocarbon reserves (big fish).

This project is carried out in collaboration including with Petronas, the neighboring country’s energy company.

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“The size is big fish in Malaysia. It is rich in oil and gas. The deep part has gas and the shallow part has oil,” said Pertamina Hulu Energi (PHE) Exploration Director Muharram Jaya Panguriseng at the PHE Media Gathering in Mandalika, West Nusa Tenggara (NTB), Wednesday.

From initial estimates, Muharram continued, the reserves in Block SK 510 are estimated to reach 6.6 trillion cubic feet (TCF) of gas.

This reserve potential is in line with the government’s policy to transition energy to gas. “We hope to transition energy to gas,” Muharram said.

The participating interest (PI) holders in Block SK510 consist of Petronas Carigali Sdn. Bhd. as operator with 40 percent participating interest, PMEP and Inpex Malaysia E&P SK510 Sdn. Bhd each have a 25 percent working interest, and Petroleum Sarawak Exploration & Production Sdn. Bhd has the remaining 10 percent PI.

Block SK510 covers a working area of 1,864 km2 located offshore Sarawak, Malaysia which is included in PHE’s upstream asset management portfolio, as Pertamina’s Upstream Subholding.

Muharram emphasized that exploration of oil and gas reserves must continue in order to maintain national energy security. PHE itself will continue to explore oil and gas reserves massively and aggressively.

According to him, the issue of oil and gas is not just an economic issue, but part of a nation’s sustainability strategy. Because if you refer to the Russia-Ukraine war, you can see how vulnerable Europe is when gas supplies from Russia are stopped.

From Indonesia’s point of view, the need for fossil oil energy in 2050 is estimated to be still high, reaching 24 percent or 240 MTOE of the estimated national energy demand of 1,000 mega tons of oil equivalent (MTOE).

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