Spanish gas and oil company “Repsol” together with Malaysian and Japanese partners have discovered the largest natural gas field in Indonesia for 18 years. It is one of the 10 largest fields, which were discovered in the last 12 months.
The field is located in South Sumatra province. Spanish company estimates the volume of the field at 57 billion cubic meters of gas. Spanish company “Repsol” and Malaysian “Petronas” own 45% each of the field, the Japanese “Moeco” – 10%.
In the coming months, the company will continue to explore the field. “Repsol” works closely with “SKK Migas” in research activities, and it also continues to discuss cooperation with the Indonesian authorities.
Indonesia is the “Repsol” investment studies center in Southeast Asia. The company owns licenses in Sumatra, both onshore and offshore, and plans to conduct an intensive drilling and seismic prospecting campaign in 2019 and 2020.
“Repsol's” exploration and production strategy focuses on the development of gas assets, which are considered to be the key fuel for the energy transition to a low-carbon global economy.
In 2017, “Repsol” produced 15 million barrels of oil in Indonesia, mainly on the Corridor gas block. The company owns the rights to six blocks: five blocks for exploration and one for production/development.