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