We are present in Indonesia through our Upstream business with mineral rights to six blocks and having made one of the ten largest hydrocarbon discoveries in the world in the last twelve months. Moreover, we have been producing and distributing lubricants across the country for 20 years. Thanks to our sales growth, Indonesia has become the third largest market for our lubricants in the world.
* Exploration *Production
In the Sakakemang block, which is located in the south of the island of Sumatra, we have made the largest gas discovery in Indonesia in the past 18 years and one of the 10 largest hydrocarbon discoveries worldwide in the past twelve months. The well KBD-2X has an estimated 2 trillion cubic feet (TCF) of recoverable resources, and we are the operator with a 45% stake.
In May 2015, we incorporated this field into the Company's portfolio of productive assets. It is a non-operated block in which we have a 36% stake. Most of the natural gas produced in the Corridor block is sold through long-term sales agreements with PT Chevron Pacific Indonesia, Gas Supply Pte. Ltd., and PT Perusahaan Gas Negara. In the first half of 2015, an extension of the sales contract for gas from this block was agreed with COPI (Conoco Phillips Indonesia).
Three development wells were completed in the Corridor block: one in the Sumpal field and two in the Suban field. Two of these wells (Sumpal-8 and Suban-16) began production in 2018, and the third (Suban-18) will be connected at the end of the first quarter of 2019. In 2018, the Compression project in the Suban field was over 80% complete, and start-up is scheduled for the second half of 2019.
11th Fl, Jl Jend Sudirman, Kav
Updated on December 31st, 2019.