Indonesia energy ministry approves Nunukan Block plan of development

JAKARTA (rambuenergy.com) – The Energy and Mineral Resources Ministry has approved the plan of development (PoD) of Nunukan Block, which is located in offshore north Kalimantan, near the Indonesian-Malaysian border.

Director for Upstream Oil and Gas at the Energy and Mineral Resources Ministry Djoko Siswanto said the Energy Minister Sudirman Said has signed the PoD I, submitted by PT Pertamina.

Under the development scheme, the North Kalimantan provincial government will get 10 percent working interest.

Pertamina, through its subsidiary PHE Nunukan Company, currently holds 64.5 percent of working interest in the block, from 35 percent previously, after PT Medco Energi Internasional decided to offload its interest for economic reasons. The ownershiop of Videocon has also increased, from 12.5 percent to 23 percent. The remaining 12.5 percent stake is held by BPRL Ventures Ind BV.

Nunukan Block is located in the Tarakan Basin on the continental shelf of northeast Kalimantan, about 450 km north of the prolific oil and gas producing Kutei Basin. Both the basins have been filled with Miocene-Pleistocene fluvial and deltaic sediments in the onshore and shelf areas of the basin that grade into turbidite deposits on the slope and deep water portions of the basins. (*)

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