Repsol Confirms Big Indonesian Gas Find

Spanish producer Repsol has confirmed a major gas find in South Sumatra, Indonesia, which the national upstream regulator SKK Migas announced without quantifying February 18. The KBD-2X well found "at least" 2 trillion ft³ of recoverable resources, in the Sakakemang block near other  transport infrastructure, Repsol said.

Repsol and Malaysian state Petronas each have 45% and Japanese Moeco the remaining 10% in what Repsol calls the largest find in Indonesia for 18 years.

Repsol will continue the exploratory work with an additional planned appraisal well. Indonesia is the focus of Repsol’s exploration efforts in southeast Asia and Repsol plans to drill and shoot a lot of seismic this year and next.

Repsol produced 15mn barrels of oil equivalent in 2017 in Indonesia, mainly from the asset known as Corridor. Repsol owns mineral rights to six blocks: five are exploration blocks and one is in production/development.

Repsol expects to sell the gas locally so the economy will benefit from a supply of affordable and low-carbon fuel for industrial use, including power generation. Gas makes up three-quarters of the company’s reserves and two-thirds of its output.