Indonesia Inaugurates Two Gas Projects Worth $1.15 billion

Indonesia inaugurated two oil and gas projects worth Rp 13.6 trillion ($1.15 billion) in Balikpapan, East Kalimantan, on Monday. 

Two projects are Ruby Gas field development project in Sebuku block, which is managed by Mubadala Petroleum and Sisi Nubi 2B gas field project in Mahakam block which is operated by Total E&P Indonesia, country’s oil and gas regulator SKK Migas said. 

Ruby gas field is expected to produce about 250 billion cubic feet of gas during its 10-year life span and the output is reserved for domestic consumption.

Sisi Nubi 2B field, which is located offshore Kartanegara in East Kalimantan, has a production capacity of up to 350 million standard cubic feet per day (mmscfd) of gas.

Mubadala Petroleum's Indonesian President, Chris Jones, said it was important for Mubadala to complete the development of the Ruby field efficiently, on time, within budget, and most importantly safely. According to the approved plans of developments (POD), the second phase of the project involves adding 35 wells that would cost $1.03 billion.