22 hydrocarbon areas remain untapped

22 hydrocarbon areas remain untapped

JAKARTA (JP): Indonesia has yet to explore 22 of its sedimentary basins which are believed to hold hydrocarbon resources, the state oil company, Pertamina, said yesterday

"The 60 sedimentary basins are estimated to hold 71.86 billion barrels of oil and 212.90 trillion cubic feet of natural gas," Pertamina's Director for Explorations and Production G.A.S. Nayoan told a hearing with the House of Representatives Commission on Energy and Mines.

"But of the total potential resources, only 10.41 billion barrels of oil and 114.24 trillion cubic feet of gas have thus far been found and proven," Nayoan added.

He said only 14 of the 60 hydrocarbon basins have been producing, while 24 others have been explored but have yet to be developed and the remaining 22 remain untapped.

But 20 of the unexplored basins are located in eastern Indonesian added Nayoan who represented the Pertamina president, Faisal Abda'oe at the hearing.

"Aside from the oil and gas resources, Indonesia also has 19,658 MW of potential geothermal energy resources, of which 1,057 MW have been proven," he said.

However, only the geothermal steam at Kamojang in West Java has so far been harnessed through a power station with an installed capacity of 144.5 MW.

A report submitted to the House by the Pertamina executive showed that Indonesian crude oil production will remain stagnant at about 1.35 million barrels a day for the next five years and condensate output will decline from 164,200 barrels a day this year to 145,600 barrels in 1999. (icn)