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PoD Revision of the Masela Block Oil and Gas Project Development Plan was Signed

Written By pipeline-engineer.com on Saturday, July 13, 2019 | 7:56:00 PM

Saumlaki - Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan has signed a revision of the Masela Block Oil and Gas Project Development Plan for the Tanimbar Islands, Maluku. This was stated by the Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto through a press release received today.

The signing was carried out after Minister Jonan cooperated with the Corruption Eradication Commission (KPK) to prevent potential corruption in the development of the block which has a large investment and the use of the cost recovery profit sharing contract (PSC). "Yesterday we had to clarify with the KPK. There were a number of things that were the concern of the KPK, there were some that had been clarified, there were some that had to be monitored, for example procurement. With the KPK completed, (PoD) was signed by the Minister," said Dwi, Saturday, July 13, 2019.

The PoD revision that has been approved by the Minister of ESDM, according to Dwi, is in accordance with the recommendations of SKK Migas. "Because this is a big investment, then the Minister will report to the President. In detail, the Minister will deliver," he said.

Furthermore, Jonan said the government did not delay long after SKK Migas and Inpex signed a Head of Agreement (HoA) on June 16. Now the PoD made based on the HoA is ready to be executed and the next step in developing this Masela Block is FID (Final Investment Decision). "Their FID will process, according to the schedule for another year (complete)," Dwi said.

Previously, INPEX Corporation's Senior Media Specialist Mochamad Nunung Kurniawan explained that INPEX formulated a revised Plan of Development (POD) based on the results of the Pre-FEED work and ongoing discussions with the government so that the project has feasibility from the economic side of the project.

The contractor winning the Pre-FEED Onshore LNG auction is PT KBR Indonesia, while the Pre-FEED Floating Production Storage and Offloading (FPSO) Contractor is a PT Technip Engineering Indonesia Consortium and PT Technip Indonesia. Under the scheme of land LNG development with an annual LNG production capacity of 9.5 million tons.