Indonesia's crude oil output to remain stable until 1999
JAKARTA (JP): Indonesia's crude oil output is expected to remain stable at 1.36 million barrels per day (bpd) until 1999 in spite of steady declines in production through the "primary recovery system," which yields the initial barrels of oil.
G.A.S. Nayoan, a senior vice president of the state-owned oil enterprise Pertamina, said at an international business meeting here yesterday that "enhanced recovery," a technique used to mine more profoundly, in old oil fields will offset the steady declines of production in fields with the primary recovery system.
The government has projected that Indonesia, which has not made major oil discoveries in the last few years, might become a net oil importer by the early 2000s.
Nayoan said yesterday that enhanced recovery will become the new trend in future production technologies.
"In the first decade of the next century, enhanced recovery may dominate oil production," Nayoan told some 150 local and foreign business people attending the meeting.
Oil production through enhanced recovery is projected to increase from 358,600 bpd this year to 394,000 bpd next year and to 655,000 bpd by 2000.
"However, since the projected production in the coming years is based on last year's field data, the above mentioned figures must be considered minimal," Nayoan said.
Crude oil production from old fields through primary recovery will likely steadily decline from 968,000 bpd this year to 855,500 bpd next year, 738,000 bpd in 1996, 650,000 bpd in 1997 and 584,400 bpd in 1998, he said.
Oil production from new fields through primary recovery is projected to increase from 600 bpd this year to 3,600 bpd next year and to 39,400 bpd in 1998.
"New field production is expected to become more and more important," Nayoan said, adding that the current success ratio of exploration activities is some 17 percent.
He said Indonesia's oil exploration and production business will remain attractive as its current total reserves stand at 11.30 billion barrels, including the proven reserves of 5.78 billion barrels.(rid)