Increased domestic gas consumption urged<\/p>\n
JAKARTA (JP): The president of the state-owned oil company
\nPertamina, Faisal Abda'oe, called yesterday for a significant
\nincrease in domestic gas consumption in a bid to delay Indonesia
\nbecoming a net oil importer.<\/p>\n
\"One way we can stall the country becoming a net oil importer
\nis to use wisely our natural gas, which has larger reserves than
\noil,\" Faisal said at the opening ceremony of a two-day symposium
\non the technology and development of gas and petrochemical
\nproducts.<\/p>\n
He noted that natural gas is also more environmentally
\nfriendly as it contains very few pollutants.<\/p>\n
Faisal said his company's latest data shows that Indonesia's
\npotential oil resources are estimated at 66.7 billion barrels,
\nwhile its proven reserves amount to 10.9 billion barrels. \"With
\nour daily production of about 1.5 million barrels per day, we
\nwill end up being a net oil importer in 17 years,\" he said.<\/p>\n
According to the data, Indonesia's natural gas resources are
\n266.7 trillion cubic feet, while proven reserves total 114.9
\ntrillion cubic feet. \"The reserves will last for 35 years if we
\ncontinue to produce at the current level of 2.9 trillion cubic
\nfeet per annum,\" he said.<\/p>\n
Most of the Indonesian gas has been exported in the form of
\nLiquefied Natural Gas.<\/p>\n
Currently, domestic gas only accounts for about two percent of
\ntotal energy consumption, which is still dominated by oil.<\/p>\n
Faisal also cited the application of modern technology and new
\noil exploration as the other ways of preventing the country
\nbecoming a net oil importer.<\/p>\n
\"We had previously predicted that we we'll start being a net
\noil importer from now on. But since we have been making efforts
\nto search for new oil reserves and apply modern technology in our
\nexplorations we can delay our country from becoming a net
\nimporter,\" he noted.<\/p>\n
The two-day symposium was attended by 200 participants,
\nconsisting of industrialists, researchers, business people, and
\ngovernment officials.<\/p>\n
Speaking to reporters after the ceremony, Faisal said that it
\nwill be difficult for Indonesian oil to stay at US$18 per barrel
\nduring the second semester of this year.<\/p>\n
\"But I'm optimistic that our oil prices will average above the
\n$16.5 per barrel we set in our current state budget,\" he said,
\nadding that the oil price will possibly average $17 per barrel
\nuntil the end of this year. (13)<\/p>",
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"sponsor": "Okusi Associates",
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