Exploration activities boost RI's oil, gas reserves: Government<\/p>\n
Fitri Wulandari, The Jakarta Post , Jakarta,<\/p>\n
The government said on Friday that various oil and gas
\nexploration and exploitation activities in 2003 had added one
\nbillion barrels of oil and 20 trillion cubic feet of natural gas
\nto the country's current oil and gas reserves.<\/p>\n
Minister of Energy and Mineral Resources Purnomo Yusgiantoro
\nsaid that the boost in the oil and gas reserves marked a
\nsuccessful year for investment in the sector.<\/p>\n
He was speaking at the second annual forum between the
\ngovernment and oil and gas firms operating in Indonesia, held at
\nthe Bogor State Palace in Bogor, West Java.<\/p>\n
The meeting was opened by President Megawati Soekarnoputri.<\/p>\n
Purnomo said that some 70 percent of the additional reserves
\nwas contributed by state-owned oil and gas firm PT Pertamina's
\nnew oil and gas finds (including those coming from various
\npartnerships between Pertamina and private contractors).<\/p>\n
Major reserves found by Pertamina's own operations come from
\nthe Pondok Tengah oil and gas field in Bekasi, West Java. While
\nthose resulting from partnerships with oil and gas contractors
\ninclude the Banyu Urip field, Alastua, Sukowati and Jambaran
\n(operated by ExxonMobil Cepu); deepwater West Seno and Merah
\nBesar in East Kalimantan (Unocal); Kerisi and Belanak field in
\nSouth Sumatra (ConocoPhillips); Matra and Tiaka (Exspan); Oseil
\n(Kufpec Ltd.); Tuba Obi Timur (Akar Golindo); Sisi\/Nubi
\n(TotalFinaElf); KE-40 (Kodeco); Ujung Pangkah (Amerada Hess); and
\nSukowati (Petrochina).<\/p>\n
While the additional 20 TCF of natural gas reserves come from
\nJambaran, Alas Tua, Sukowati, Abadi, and Pondok Tengah fields.<\/p>\n
Director of Exploration and Exploitation Indrayana Chaidir
\ntold The Jakarta Post that with the additional reserves, the
\ncountry's total potential and proven oil and gas reserves now
\nstand at 10.7 billion barrels and 190 TCF of gas, respectively.<\/p>\n
Megawati in her speech said the country had to keep finding
\nnew natural resources to meet growing national demand.<\/p>\n
\"We have to face the reality that our ability to fulfill
\ngrowing national demand has been diminishing. In relation to oil
\nand gas, the market is not only the international market but also
\nnow and in the future, the domestic market,\" she said.<\/p>\n
Megawati also said that prudent exploitation and use of
\nnatural resources must be developed because the resources are not
\nunlimited.<\/p>\n
\"Like any members of the global society, we are trying to
\npromote efficiency in using (natural resources),\" she added.<\/p>\n
In the meeting, Megawati received a progress report from the
\noil and gas sector, including the restructuring of the sector
\nthrough the establishment the Oil and Gas Upstream Authority Body
\n(BP Migas), the Oil and Gas Downstream Regulatory Body (BPH
\nMigas) and the turning of Pertamina into a limited liability
\ncompany.<\/p>\n
Purnomo also reported that 15 new oil and gas contracts had
\nbeen signed in 2003 with a total exploration commitment of
\nUS$140.9 million.<\/p>\n
In the liquefied natural gas (LNG) sector, the country has
\nsigned a preliminary contract to sell LNG to U.S.-based Sempra
\nEnergy LNG Corp. (3.7 million tons), South Korean SK Corporation
\nand POSCO (1.15 million tons), and with China CNOOC-Fujian LNG.
\nCo (2.6 million tons).<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/exploration-activities-boost-ris-oil-gas-reserves-government-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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