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Report: ConocoPhilips requests extension of Indonesian gas block operations

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Report: ConocoPhilips requests extension of Indonesian gas block operations

ConocoPhillips has requested Indonesia's Ministry of Energy and Mineral Resources to extend its operations in the Corridor natural gas block following the end of its contract by December 2023, a ministry official told Reuters on Sept. 3.

Indonesia's oil and gas director Djoko Siswanto told reporters on Sept. 3 that ConocoPhillips subsidiary, ConocoPhillips (Grissik) Ltd., submitted a letter about its plans for the block but noted that it still needed to submit a formal proposal.

Siswanto said to Reuters that without a proposal this month, the right to operate the Corridor block will be given to state-owned oil company PT Pertamina (Persero).

Taufik Ahmad, ConocoPhillips (Grissik) vice president for commercial and business development, told Reuters that the company had sent the letter regarding the extension but noted that it needed to have discussions with Indonesia's upstream oil and gas regulator, SKKMigas, before it could give a proposal.

Citing recent data from SKKMigas, Reuters said the Corridor field produced, on average, 828.4 million standard cubic meters of natural gas per day from January to July of this year and is projected to yield 810 MMcf/d in 2019.