Indonesia's oil reserves

Indonesia's oil reserves

It is estimated that there are only 15 years left before Indonesia becomes a net importer of oil. It could happen sooner if we continue to produce at high levels. However, this should be no cause for worry since for the past several years the government has been promoting alternative energy uses. Moreover, this country is known for its wealth in energy resources such as natural gas, coal, geothermal energy and water.

Aside from all that, it is time that in this era of deregulation and de-bureaucratization the government starts building a business climate that attracts foreign investors to explore for oil and natural gas, particularly in areas where the terrain is difficult such as in the eastern parts of Indonesia. It is also time for the government to publish all exploration data for the use of foreign investors in order to encourage them to undertake such explorations.

In this way it is to be hoped that new and more productive oil reserves can be found. In addition, this would give us more alternative locations for the development of truly productive and long-lasting oil and gas resources.

The problem is how to use those various alternatives optimally to attract foreign investors in the oil and gas business. This will depend on the determination of all of us, particularly the government, to develop our economy, which has topped the priority list in all our past five-year development programs.

-- Bisnis Indonesia, Jakarta