RI wants to delay net oil importer status

RI wants to delay net oil importer status

KUALA LUMPUR (Reuter): Indonesia aims to defer becoming a net crude oil importer by three years to 2007 through improved oil exploration methods and greater use of natural gas and coal, a senior official with state-owned Pertamina said yesterday.

"It was predicted that in 2004 we would be a net importer...(but) presently we can maintain the level of production and can postpone the status of net importer to at least 2007," said F.X. Sujanto, Pertamina's vice president for exploration and production.

This was due to improved exploration technology as well as the use of alternative energy sources such as natural gas and coal, Sujanto told the Asia Oil and Gas Conference.

He said Indonesia's reserve-to-production ratio in 1996 was eight years--a figure that has remained almost unchanged in the last 15 years.

"This situation proves that proper handling of traditional areas can generate significant production, disproving the idea that such areas soon give less and less production," he said.

In 1996 Indonesia's oil output reached 574 million barrels a year and its reserves were at 9.5 billion barrels.

Indonesia, a member of the Organization of Petroleum Exporting Countries (OPEC) produced about 1.39 million barrels per day (bpd) of crude in May and around 170,000 bpd of condensate, oil industry sources in Jakarta said last week.