Tuesday, May 28, 2024

Ministry of Energy and Mineral Resources leases potentially vast oil and gas reserves at Warim gas block in Papua

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Journalist IBP

Journalist

Mahinda Arkyasa

Editor

Interview

The Ministry of Energy and Mineral Resources (ESDM) has successfully auctioned off the Warim Block in Papua, containing extensive oil and gas reserves.

Earlier, Luhut Binsar Pandjaitan, the Coordinating Minister for Maritime Affairs and Investment, had revealed Indonesia’s potential oil “treasure” in the form of an estimated 27 billion barrels.

The Warim Block has been renamed and divided into Akimeugah I and Akimeugah II, attracting the interest of major companies. It represents a significant opportunity for oil and gas exploration.

Tutuka Ariadji, the Director-General of Oil and Gas at the Ministry of ESDM, explained that the block borders the Lorentz National Park, an area protected by the Ministry of Environment and Forestry. 

To address this, 10% of the block’s territory has been excluded from the auction, eliminating potential environmental and UNESCO-related issues.

Renamed Akimeugah I and II, the block retains its substantial oil and gas potential. Tutuka categorized the resources within this block as “giant,” emphasizing the magnitude of the reserves.

While several companies have expressed interest in the block, no official announcements have been made about the successful bidders.

The Warim Block lease offers significant potential for both oil and gas resources, contributing to Indonesia’s oil and gas sector.

Journalist IBP

Journalist

Mahinda Arkyasa

Editor

 

Interview

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