TEMPO.CO, Jakarta - President Joko “Jokowi” Widodo expects Indonesia to make huge profit from East Natuna block, the Coordinating Ministry for Maritime Affairs Luhut Binsar Panjdaitan said after a meeting with the President and other ministers at the Presidential Palace on Wednesday, January 11, 2017.
According to Luhut, the government is aspiring to resolve past problems, including the East Natuna block. He said that Indonesia did not make profit from the project situated in the Riau Island. On the other hand, Exxon has fully benefited from it.
“The profit sharing: Indonesia got 0 percent, Exxon got 100 percent. We have stopped it, assigned it to Pertamina. Pertamina is now negotiating B-to-B with Exxon. Indonesia must have its fair share. The President always wants the republic to become greater,” Luhut said Wednesday, as quoted by Bisnis Indonesia.
The East Natuna block consortium is led by state-owned company PT Pertamina (Persero) and comprises Exxon Mobil and PTT EP Thailand. The consortium had yet to commence operations to develop the block as they await further study.
Data from the Energy Ministry show that East Natuna block holds a potential of 222 trillion cubic feet (Tcf). Only 46 Tcf gas can be produce because 72 percent of which is carbon dioxide. As for oil, the potential production is 15,000 barrel per day (bpd).
BISNIS.COM
