Aceh Has Potential Getting New Sources of Oil and Gas from the Singkil and Meulaboh Block

The Aceh Oil and Gas Management Agency said Indonesia’s province of Aceh has the potential to get new sources of oil and gas from the Singkil Block and Meulaboh Block on the southwest waters off the province.

“This is the result of a Joint Study Assessment (JSA) conducted by an oil and gas company from Singapore, Conrad Petroleum in cooperation with indonesia’s Universitas Pembangunan Nasional Veteran, and Jakarta-headquartered Frontier Point Ltd in cooperation with Trisakti University (in Jakarta),” Antara news agency quoted an official statement from the agency.

The agency’s head, Teuku Mohamad Faisal, made the statement which was conveyed by the agency’s head for Exploration and Exploitation Division, Ibnu Hafizh, last Wednesday.

Hafizh mentioned that this encouraging news is evidence that the upstream oil and gas industry in Aceh shows a positive trend indicating high interests of domestic and foreign oil and gas companies to invest in indonesia’s westernmost province.

He said the total potential in the Singkil Block with an assumption of P50 (referring to proven and probable reserves) is 296 billion cubic feet (BCF) of gas, while the Meulaboh Block has the potential for Petroleum with an assumption of P50 of 192 million barrels of oil (MMBO) and gas potential with the same assumption of 1.1 trillion cubic feet (TCF) of gas handled by Frontier Point Ltd.

Based on the results of the joint study, the potential for hydrocarbons is believed to be in the Offshore South West Aceh (Singkil Block) with an area of 8200 km2 and Offshore North West Aceh (Meulaboh Block) covering an area of 9200 km2, with an average geological risk from moderate to high especially in the source rock.