LAMANRIAU.COM, JAKARTA – PT Chevron Pacific Indonesia (CPI) officially ended its management rights in the Rokan Block on Sunday, August 8, 2021 at 23:59.
The President Director of CPI, Albert Simanjuntak, said goodbye and thanked him. “This is all because of the support from the Indonesian government. On behalf of Chevron, we thank you for your trust in us,” said Albert at the ceremonial transfer of management of the Rokan Block, Monday, August 9, 2021 in the morning.
Albert explained that during the 97 years Chevron has been active in Indonesia, the company has done many things, one of which is finding and then managing oil and gas fields that have contributed significantly to Indonesia’s production so far.
“Thank you for the support and the opportunity for us to support the people and the Indonesian state for almost a century,” said Albert.
Chevron has been managing the Rokan Block in Riau for 97 years. With the Cost Recovery contract, Chevron makes the Rokan Block one of the largest producing fields in Indonesia. Chevron’s management rights contract officially expires on Sunday 8 August 2021 at 23:59.
Furthermore, the Rokan Block for the next 20 years will be officially managed by PT Pertamina (Persero) with a Gross Split contract scheme.
The Rokan Block itself was discovered in 1927. The Rokan Block is one of the largest production contributor fields in Indonesia. In fact, the Rokan Block had reached its peak production of 1 million barrels per day in 1973.
Meanwhile, until the first semester of this year, the Rokan Block is still an oil and gas field that produces quite a lot. It was recorded that the production of the rokan block reached 160,646 barrels per day.
To be able to suppress the rate of natural decline in production (natural decline) PT Pertamina (Persero) needs to do a lot of homework. However, Pertamina’s most focused effort is EOR and is also active in drilling existing wells.
The end of the Chevron contract was decided by the Government in 2018. Since 2018 Chevron has started to transition over management to Pertamina. Various efforts were made by the two companies together with SKK Migas to be able to maintain the production of the Rokan Block. ***
