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According to Minister Regulation of Energy and Mineral Resources No. 01 Year 2008, old well is wells which are drilled before 1970 and ever produced in the working area of cooperation contract and not produced anymore by the contractor. Old wells nowadays become valuable because the crude oil price...
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/9123 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | According to Minister Regulation of Energy and Mineral Resources No. 01 Year 2008, old well is wells which are drilled before 1970 and ever produced in the working area of cooperation contract and not produced anymore by the contractor. Old wells nowadays become valuable because the crude oil price is high. Old wells in Indonesia are about 13824 wells, they are 3623 wells ini south of Sumatera, 1633 wells ini middle of Sumatera, 2392 wells ini north of Sumatera, 3143 wells in east of Kalimantan, 100 wells in south of Kalimantan, 2496 wells ini middle, east of Java, Madura, 208 wells ini Papua and 229 wells in Seram. The old wells are produced by KUD/BUMD based on term of agreements. Cooperation contract which is used is Cost & Fee model and Sharing Mode. In the Cost & Fee model, Contractor pay fee to KUD/BUMD for producing oils. And for Sharing Model, Contractor share that is after splitted with Government that splitted again for KUD/BUMD revenue and Contractor revenue and all operation cost of KUD/BUMD become operation cost of Contractor. Fee and share of KUD/BUMD are impacting the economic value of old well, therefore must know the minimum fee and minimum share to be given to KUD/BUMD. |
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