Oil potentials in Indonesia need more exploration: association

Jakarta (ANTARA) – President of the Indonesian Petroleum Association (IPA) Tumbur Parlindungan expects oil and gas exploration activities in Indonesia to be encouraged given that there are still many oil reserves in the Southeast Asia region.

“Unfortunately, in the past 15 years, exploration activities have been quite minimal in Indonesia. In fact, many other countries whose oil and gas reserves are less than those of Indonesia have been improving for upstream oil and gas investments,” Tumbur Parlindungan said in a press release received here on Sunday.

He stated that at present, Indonesia is having opportunities and challenges in restoring the glory of the upstream oil and gas sector.

This, he continued, can be done by restoring the interest and enthusiasm of global oil and gas investors to carry out exploration and exploitation in the country.

“National oil and gas reserves are proven to be still relatively large in the Southeast Asia region, even in Asia. It’s just that there needs to be additional oil and gas reserves realized by exploration,” said Tumbur.

For this reason, he said, this fact should be of concern to all stakeholders, considering that the portion of oil and gas in national energy needs is still highest when compared to coal, or with new and renewable energy.

Based on the General Plan of National Energy (RUEN), the target of mixed fossil energy in 2025 reaches 47 percent compared to 43.5 percent in 2050. .

Still based on RUEN, national oil production is projected at 567,000 barrels of oil per day (BOPD) in 2025, while in 2050 it is 698,000 barrel oil per day (BOPD).

Meanwhile, the national crude oil refinery needs in 2025 reached 2.19 million BOPD and increased to 4.61 million BOPD in 2050.

Assuming that national oil production is absorbed by 100 percent for domestic needs, national crude oil imports in 2025 will range from 1.67 million BOPD and 3.92 million BOPD by 2050.

Source: ANTARA News