Harbour looks to confirm commerciality at potentially giant Indonesian gas discovery

[Indos]

Ministry of Energy and Mineral Resources Reveals Oil and Gas Potential of Warim Basin Exceeds Masela Block​

2 hours ago



KONTAN.CO.ID - JAKARTA. The Ministry of Energy and Mineral Resources (ESDM) revealed that there is a jumbo oil and gas potential from the Warim Basin in Papua.

Director General of Oil and Gas of the Ministry of Energy and Mineral Resources Tutuka Ariadji said that oil and gas resources in the Warim Basin are even estimated to exceed those in the Masela Block.

"The big basin is in Papua which borders Papua New Guinea, there is a fairly large WK (working area), called Warim. That's what we're focusing on, yes. Warim there is oil and there is gas. That's huge," said Tutuka as quoted from an official statement, Monday (9/1).

Tutuka continued, despite its jumbo potential, oil and gas development in the Warim Basin encountered challenges given its location adjacent to the National Park. Lorentz.

The government is currently trying to recalculate its potential outside the park. "We're trying to approach outside the park, it's still big what's the size of our target," Tutuka said.

The Ministry of Energy and Mineral Resources is working with the Ministry of Environment and Forestry to resolve this obstacle.

In addition to Warim, the Government also focuses on developing oil and gas basins in Buton, Warin, Aru and Timor located in the eastern part of Indonesia. Currently, Indonesia has 70 basins that have not been explored.

Kementerian ESDM Ungkap Potensi Migas Cekungan Warim Melebihi Blok Masela

 

[Indos]

The Deputy Minister of Energy and Mineral Resources claims that Indonesia has 10 areas with potential jumbo gas reserves​

Reporter: Febrina Ratna Iskana | Editor: Azis Husaini

Friday, 01 March 2019 / 14:28 WIB

KONTAN.CO.ID -JAKARTA. The Ministry of Energy and Mineral Resources (ESDM) strives to increase oil and gas (oil and gas) production, one of which is through exploration activities. According to Deputy Minister of Energy and Mineral Resources Arcandra Tahar, Indonesia still has giant oil and gas potential in several regions.

One of these areas is South Sumatra (Fractured Basement Play) which has recently discovered natural gas reserves of 2 trillion cubic feet (TCF) of gas in the Sakakemang Working Area, Bayung Lencir District, Musi Banyuasin Regency, South Sumatra. Sakakemang's working area is operated by Repsol.

"Hopefully this can raise the spirit of exploration in Indonesia in the future, because there are still many of our basins and our plays that have not been explored, and it turns out that Alhamdulillah, we found new ones," said Arcandra in a press release on Friday (1/3).

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has also identified at least 10 potential Giant Discoveries namely North Sumatra (Mesozoic Play), Center of Sumatra (Basin Center), South Sumatra (Fractured Basement Play), Offshore Tarakan, NE Java-Makassar Strait, Kutai Offshore, Buton Offshore, Northern Papua (Plio-Pleistocene & Miocene Sandtone Play), Bird Body Papua (Jurassic Sandstone Play), and Warim Papua.

Arcandra said that the potential of the existing gas basin will be optimized with hard work, new technology, and in line with the adjustment of the fiscal system policy of the oil and gas industry.

"As long as we are serious about running all exploration programs, as well as support from the government to facilitate the upstream oil and gas business in Indonesia, including in this case encouraging the use of gross splits," said Arcandra.

In the future, the Government will also facilitate the offering of Oil and Gas Working Areas (WK) to investors. Data regarding the listed Basins, will be opened for analysis.

https://industri.kontan.co.id/news/wamen-esdm-klaim-indonesia-miliki-10-wilayah-berpotensi-cadangan-gas-jumbo

 

[Indos]

Petronas Is Said to Be Interested in Managing the East Natuna Block with Pertamina​

SKK Migas revealed that Petronas is interested in managing the East Natuna Block with Pertamina. This block has a gas content of 222 trillion cubic feet (TCF).

By Muhamad Fajar Riyandanu
5 Oktober 2022, 14:34

Petronas is interested in managing the East Natuna Block with Pertamina.

Malaysian oil and gas company Petronas is reportedly interested in becoming one of the gas field managers in the East Natuna Block with PT Pertamina (Persero).
SKK Migas said that Petronas had expressed interest in developing the East Natuna Block in Natuna waters.

The Head of SKK Migas, Dwi Soetjipto, said that his party would bring Petronas together with Pertamina as the operator in the East Natuna Block. The meeting is scheduled to be held next week.

"Maybe next week start talking. We also ask Petronas to send a letter also if this is the case," said Dwi when met by reporters at the SKK Migas Media Gathering in Bandung, Tuesday (4/10).

Dwi added that currently gas mining activities in the East Natuna Block have stopped due to the decision of ExxonMobil and PTT EP, which were previously part of the East Natuna consortium with Pertamina, to leave and not continue cooperation.

"Petronas is interested, of course, with Pertamina as the assignment operator. It's not a walk yet. If there are other parties who are interested, they can attract Pertamina," said Dwi.
The East Natuna block is estimated to have a gas potential of up to 222 trillion cubic feet (TCF) with a carbon dioxide or CO2 content of 71%. With these conditions, the gas that can be exploited is only in the range of 46 TCF.

Dwi continued, along with the development of gas separation technology with carbon dioxide or Carbon Capture, Utilization & Storage (CCUS), the CO2 constraints in the East Natuna Block are considered to be overcome.

Petronas is considered a company capable of managing gas fields with high CO2 content. Because currently Pertonas is also managing oil and gas projects in Malaysia which have a CO2 content of up to 70%.

"We immediately pushed Petronas for the East Natuna Block which had not been cultivated for a long time due to high CO2. With CCUS, there is a bright spot to deal with it," said Dwi.

Petronas Disebut Berminat Kelola Blok East Natuna Bersama Pertamina - Energi Katadata.co.id

SKK Migas mengungkapkan bahwa Petronas berminat untuk mengelola Blok East Natuna bersama Pertamina. Blok ini memiliki kandungan gas sebesar 222 triliun kaki kubik (TCF).

katadata.co.id

 

[Indos]

Indonesia to continue supplying natural gas to S’pore after contract expires in 2023: Minister​

An aerial view of the LNG terminal on Jurong Island. The terminal allows Singapore to import natural gas from around the world. PHOTO: SLNGCORP.COM


PUBLISHED

OCT 25, 2022, 4:41 PM SGT

SINGAPORE - Indonesia will continue supplying natural gas to Singapore from South Sumatra when an existing sales agreement expires in 2023, the country’s Minister for Energy and Mineral Resources told The Straits Times on Tuesday.

Mr Arifin Tasrif said a decision had been concluded and that the new supply agreement will be for a period of “five years”.

When asked when the decision, along with other details, will be announced, he said: “Well, they are going to sign for the formality, so you are going to have to wait... within this week.”


Singapore depends on imported gas for about 95 per cent of its electricity needs and is vulnerable to any shifts globally in supply-demand fundamentals.

ST understands from industry sources and analysts that the gas supply agreement that is due to expire in 2023 involves Singapore firm Gas Supply Pte Ltd (GSPL). According to its website, GSPL was set up in 2000 as a subsidiary of PowerGas to import natural gas into Singapore.

The GSPL website said the company had signed a gas sales agreement with Indonesian state oil firm Pertamina in February 2001 for the supply of 2.27 trillion standard cubic ft (TCF) of natural gas from South Sumatra. It also noted that the supply agreement, which was valued at US$9 billion (S$12.8 billion), took effect in 2003 and was contracted to run for 20 years.


When contacted by ST in September, the Energy Market Authority (EMA) said: “We are not able to comment on the specifics of gas supply agreements as these are commercially sensitive.”

The GSPL website lists Mr Alan Heng as its chief executive officer, a position he has held since 2011. Mr Heng, an energy market veteran who was previously with US energy giant ExxonMobil, was recently appointed by Temasek-backed Pavilion Energy as its group CEO.

Pavilion Energy declined to comment on the deal, but noted in an e-mail response to ST in September: “Pavilion Energy collaborates with GSPL in the Singapore market to provide gas buyers with access to both piped natural gas and liquefied natural gas (LNG) for supply and optimisation of their gas portfolios. Alan, our group CEO, is also the CEO of GSPL, a position he has held since April 2011.”

Analysts said being able to secure long-term supplies provides the Republic with a much-needed medium-term runway of stability at a time of heightened volatility and swelling geopolitical tensions as a result of the Russia-Ukraine war that has severely hit global energy markets.

Mr Prateek Pandey, Rystad Energy’s vice-president of exploration and production research for South-east Asia, said: “The extension of piped gas imports not only reduces the burden of expensive spot LNG in the near term, but it also gives Singapore some breathing room to accelerate development plans to increase the share of renewables in the power mix.”

He added that LNG’s market share as part of the country’s primary power generation feedstock fuel will inevitably expand over the longer term, particularly since the Indonesian gas fields supplying Singapore have been in decline.

Mr Pandey said natural gas imports from South Sumatra make up around 40 per cent of total pipeline supply flowing from Indonesia to Singapore.

Singapore’s Sembcorp Industries also buys gas from Indonesia. The listed entity has a purchase agreement to import natural gas from West Natuna. The contract expires in 2028, the company had said earlier in 2022. EMA notes on its website that Singapore also imports gas from Malaysia.

Indonesia to continue supplying natural gas to S’pore after contract expires in 2023: Minister

SINGAPORE - Indonesia will continue supplying natural gas to Singapore from South Sumatra when an existing sales agreement expires in 2023, the country’s Minister for Energy and Mineral Resources told The Straits Times on Tuesday. Read more at straitstimes.com.

www.straitstimes.com

 

[Indos]

Indonesia aim to export natural gas to Vietnam in 2026​

• Saturday, 24 Dec 2022
  8:05 PM MYT

JAKARTA, Dec 24 (Reuters): Indonesia aims to export natural gas to Vietnam starting 2026 from the Tuna offshore block located near the Indonesian and Vietnamese maritime border, the country's energy minister has announced.

South-East Asia's biggest economy may deliver 100 to 150 million standard cubic feet per day (MMSCFD) of gas through a gas pipeline from the Tuna block operated by Harbour Energy, energy minister Arifin Tasrif told reporters.

The Tuna oilfield, with around 100 million barrels of oil equivalent, was discovered in April 2014, the company's website shows.

Indonesia aim to export natural gas to Vietnam in 2026

Indonesia aims to export natural gas to Vietnam starting 2026 from the Tuna offshore block located near the Indonesian and Vietnamese maritime border, the country's energy minister has announced.

www.thestar.com.my

 

[Indos]

Indonesia's Largest Natural Gas Reserves are in Maluku and Papua​

Adi Ahdiat
16/12/2022 16:30 PM

Distribution of Proven Natural Gas Reserves in Indonesian Territory (2021)

According to data from the Ministry of Energy and Mineral Resources, Indonesia has proven natural gas/natural gas reserves of 41.62 trillion square cubic feet (TSCF) in 2021.

The most proven natural gas reserves are in the Maluku region, namely 13,988 billion square cubic feet (BSCF), and Papua 11,412 BSCF.

While the proven natural gas reserves in other regions such as South Sumatra, Sulawesi, and Kalimantan are each less than 5,000 BSCF with details as shown in the chart.

(Read: This is the Amount of Indonesia's Natural Gas Reserves in 2011-2021)

Director General of Oil and Gas of the Ministry of Energy and Mineral Resources Tutuka Ariadji revealed that Indonesia also has other unproven natural gas reserves.

"Although its reserves are not significant compared to world reserves, Indonesia still has 68 potential unexplored basins offered to investors," said Tutuka in a press release on the official website of the Ministry of Energy and Mineral Resources, Tuesday (11/10/2022).

"Indonesia will be able to meet the domestic needs of existing oil and gas fields. In the next 10 years, Indonesia is also expected to experience a gas surplus from several potential projects," he continued.

(Read: Indonesia Becomes the Largest Oil and Gas Megaproject in ASEAN)

Tutuka said that currently there are four oil and gas projects that are included in the National Strategic Project (PSN), namely the Indonesia Deepwater Development (IDD) Project, Abadi Masela, Jambaran Tiung Biru (JTB), and Tangguh Train 3.

Tutuka also said that until July 2022, more than half or 68.66% of Indonesia's gas production has been used for domestic needs.

"It reversed conditions a few years ago where it was mostly for exports. Now 2/3 of gas production is for the national," Tutuka said.

As of July 2022, the utilization of natural gas produced by Indonesia is most widely used for industrial needs, with a proportion of 29.2%.

Then 13.49% of national gas production is used for fertilizer, 11.62% for electricity, 8.47% for domestic LNG, 3.48% for lifting, 1.51% for domestic LPG, 0.19% for municipal gas, and 0.08% for fuel gas (BBG).

The gas production output used for export is only 31.34%, with a breakdown of 19.58% of LNG exports and 11.77% of pipeline gas exports.

(Read: Government Restricts LPG From 2023, It's The Main Consumer Province)

Cadangan Gas Bumi Terbesar Indonesia Ada di Maluku dan Papua | Databoks

Menurut data Kementerian ESDM, Indonesia memiliki cadangan gas bumi terbukti 41,62 TSCF pada 2021. Sebagian besarnya berada di wilayah Maluku dan Papua.

databoks.katadata.co.id

 

[Indos]

Tok! RI Approves Rp 51 Trillion Giant Project of Italian Oil Company​

NEWS - Verda Nano Setiawan, CNBC Indonesia
17 January 2023 20:24


Jakarta, CNBC Indonesia - Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has given approval to the revision of the Plan of Development (POD) I of the Merakes and Merakes East Fields operated by the Italian Cooperation Contract Contractor (KKKS), Eni East Sepinggan Ltd.

The approval was given through a letter from the Minister of Energy and Mineral Resources on December 27, 2022, which was an answer to the recommendations submitted by the Special Task Force for Upstream Oil and Gas Activities (SKK Migas).

"We welcome the approval (revision) of POD I of Merakes Field and Merakes East. The development of this field will provide additional reserves in order to ensure supply to the East Kalimantan System so that the Bontang LNG plant can operate more optimally," said Head of SKK Migas Dwi Soetjipto through a written statement, Tuesday (17/1/2023).

According to Dwi, his party will continue to encourage exploration and accelerate the development of oil and gas fields in East Kalimantan. Considering, this region has a strategic role while maintaining energy adequacy in the East Kalimantan region, including in the National Capital City (IKN) of the Archipelago in the future.

"Given its strategic location as the capital city in the future, the upstream oil and gas potential in East Kalimantan will continue to be developed so that it can provide support for energy supply in the region," said Dwi.

Meanwhile, the estimated cost required for the development of the Merakes and Merakes East Fields is US$ 3.35 billion or around Rp. 50.76 trillion (assuming an exchange rate of Rp. 15,154 per US$), which consists of investment costs or capital expenditure (CapEx) of US$ 2.14 billion and operation expenditure (Opex) of US$ 1.26 billion.

"In addition to helping economic growth, foreign direct investment like this will create a multiplier effect for the upstream oil and gas supporting industry because SKK Migas has made a policy so that PSC Contractors prioritize the use of domestic goods and services," said Dwi.

As is known, the Merakes and Merakes East Fields are part of the East Sepinggan Working Area which is managed by a Gross Split Profit Sharing Contract. Assuming that this field will be operational by the end of 2024 and will be in production until 2032, the country is projected to receive revenues of US$ 3.8 billion or around Rp 56.24 trillion.

"So that this contribution can be realized immediately, we hope that all stakeholders can support the development of the Merakes and Merakes East Fields so that it can run smoothly according to the target set," said Dwi.

The approval of the revision of POD I of Merakes and Merakes East Fields provides for the consequent obligations for the operators of the East Sepinggan Working Area, namely Eni East Sepinggan Ltd. Among the obligations is to complete the development work of the Merakes and Merakes East Fields according to the planned schedule.

In addition, operators are also required to continue the exploration program while maintaining the economy of the East Sepinggan Working Area. Operators are also required to implement the terms of offering 10% interes participation to BUMDs, guarantee the existence of natural gas offtakers, and support government programs in the context of providing natural gas, among others, for households (city gas) and road transportation.

The newly approved POD is a revision of the previous POD. The revision of the POD is necessary because of the additional reserves from the Merakes East Field and also because of the sharing facilities of the two fields (Merakes Field and Merakes East).

(wia)

Tok! RI Setujui Proyek Rp 51 Triliun 'Raksasa' Minyak Italia

Menteri ESDM Arifin Tasrif telah memberikan persetujuan atas revisi rencana pengembangan (POD) I Lapangan Merakes dan Merakes East.

www.cnbcindonesia.com

 

[Indos]

Continuation of the Masela Block Abadi Field Project, Pertamina Will Enter​

Story from Ahmad Fikri Noor • 2 hours ago

REPUBLIKA.CO.ID, JAKARTA -- Inpex as the main operator of The Abadi Field, Masela Block has not yet received a partner after being abandoned by its previous business partner, Shell. Head of SKK Migas Dwi Soetjipto explained that until now PT Pertamina (Persero) is still discussing with Shell about the acquisition of participating interest in the Masela Block. "They are still discussing but there is news that it is currently approaching," said Dwi at the SKK Migas Office, Wednesday (18/1/2023).

Dwi explained, if Pertamina has agreed on the amount of investment that must be spent to annex Shell's share ownership in the Masela Block, then Inpex can only move to run the largest gas field project in Indonesia.

Dwi also said that there are several parties who actually want to join the Masela Block. It's just that, it is still waiting for certainty from Pertamina to discuss with Shell.

"There are other parties who are interested as well," he said.

The Masela Block is the largest oil and gas field in Indonesia. The location is in the West Southeast Maluku Regency. Geographically, the Masela Block is bordered by East Timor and Australia.

The reserves of the Masela Block were first known only in 2000. At that time the first exploration well drilled was the Abadi-1 well located in the middle of the Abadi structure with a sea depth of 457 meters and a total depth of 4,230 meters.

The Masela block has huge potential gas reserves, reaching 10.73 trillion cubic feet (Tcf). Therefore, the Masela Block is often referred to as a perennial gas field. The government claims that the gas reserves in the Masela Block will not run out until the next 70 years.

Kelanjutan Proyek Lapangan Abadi Blok Masela, Pertamina Bakal Masuk

 

[Indos]

Although Oil and Gas Lifting Does Not Reach the Target, the Country Earns IDR 269 T (18,2 billion USD) in 2022​

Story from coilBUSINESS • 3 hours ago

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) noted that oil and gas lifting again did not reach the target in 2022. However, state revenue reached Rp 269 trillion or 189 percent of the target.

SKK Migas reported that the realization of oil lifting in 2022 is 612,300 barrels per day (BOPD), only 87 percent of the state budget target. Then the realization of lifting or gas flow reached 5,347 million cubic per day (MMSCFD) or 92 percent of the state budget target.

Deputy of Finance and Commercialization, Kurnia Chairi, said that upstream oil and gas operational efficiency continues to increase, as can be seen from the allocation of cost recovery costs that have been set in the state budget of USD 8.65 billion, only realized USD 7.8 billion or 90.1 percent in 2022.

According to Kurnia, the success of this efficiency is still maintained amid the high price of world energy commodities, indicating that the competitiveness of this industry continues to increase.

"As a result of increasing investment and the ability to maintain costs efficiently, state revenues from upstream oil and gas in 2022 will reach USD 18.19 billion, equivalent to IDR 269 trillion or 183 percent of the target set at USD 9.95 billion," he said during a press conference, Wednesday (18/1).

He added that when compared to state revenue since 2016, admissions in 2022 are the largest. The state revenue target in 2023 is set at USD 15.88 billion, an increase of 159 percent compared to the 2022 target.

In addition to state revenues, the upstream oil and gas industry also continues to increase national capacity. In 2022, the achievement of upstream oil and gas TKDN (local content) will reach 64.75 percent or greater than 2021 of 59 percent.



Illustration of oil and gas mining Photo: ANTARA FOTO/Dedhez Anggara© Provided by Coils
Highest Upstream Oil and Gas Investment in 7 Years

The realization of upstream oil and gas investment in 2022 reached USD 12.3 billion, equivalent to IDR 182 trillion, exceeding the target by 13 percent. This investment achievement has also exceeded upstream oil and gas investment before the COVID-19 pandemic in 2019.

The Head of SKK Migas, Dwi Soetjipto, said that the increase in upstream oil and gas investment in 2022 was also recorded better than the average increase in global investment which only increased by 5 percent.

"The realization of upstream oil and gas investment in 2022 is the highest in the last 7 years since 2016, indicating that efforts to improve the investment climate of the upstream oil and gas sector have shown significant progress and increased competitiveness," he added.

For 2023, the upstream oil and gas investment target is set at USD 15.5 billion, an increase of 26 percent compared to the realization of investment in 2022. This figure is also higher than the increase in global investment of 6.5 percent.

MSN

 

[Indos]

AlhamduliLLAH​

with 80 USD per barrel, it means around 46 billion USD

RI Finds 22 New Oil and Gas Wells in 2022, Total Resources 579 MMBOE​

Story from Happy Fajrian • Yesterday 1:44 p.m.

SKK Migas recorded 22 discoveries of oil and gas exploration wells throughout 2022 with a total resource of 579 million barrels of oil equivalent (MMBOE). The 22 wells consist of 14 gas wells, 7 oil and gas wells and 1 oil well.

Deputy of Exploration, Development, and Management of Working Areas, Benny Lubiantara, said that SKK Migas had actually completed 27 wells with 5 of them that did not produce oil or gas or dry.

Two dry wells are the BDA-2X well drilled by PT Pertamina Hulu Energi in South Sumetera and the SGD-1 Well drilled by PT Energi Mega Persada in the Bentu Block of Pekanbaru, Riau.

Benny added that his party will speed up the analysis of the content of well resources into reserves, so that it immediately knows the exact volume of oil and gas that can be drained from each field.

"This is still a resource, the PR is how to speed up this so that it becomes a backup," said Benny during a press conference at the SKK Migas Jakarta Office on Wednesday (18/1).

In his report, Benny explained that the majority of exploration well findings are in the Sumatra region. Pertamina EP found two wells in North Sumatra that are known to have potential gas resources, namely the Camelia-001 well and the Kenanga-001 well.

Pertamina EP also found wells that have oil and gas resources such as the Sungat Gelam Timur Well (SGET) 001 in Jambi, the Bajakah-1 Well in West Java, and the Kembo-001 Well in West Papua.

MSN

 

[Indos]

Indonesia to vastly up oil and gas exploration amid high prices

Chevron Indonesia operates on April 23, 2019 an offshore platform at the Sepinggan field in the Makassar Strait, 37 kilometers east of Balikpapan, East Kalimantan. The government has increased its 2023 targets for oil and gas production and exploration, which looks to remain a strategic development mainstay despite its net-zero agenda.(JP/Novi Adri)


Divya Karyza (The Jakarta Post)
PREMIUM
Jakarta ● Wed, January 25, 2023


The government is targeting a massive increase in oil and gas exploration this year to boost the country’s production and supply, banking on the much improved financial positions of the sector’s firms, driven by last year’s surge in crude oil prices.

The estimated target for exploratory drilling has been increased to 57 wells, almost double the 30 exploratory wells drilled last year and marking steady expansion over the past five years, according to data from the Upstream Oil and Gas Regulatory Task Force (SKK Migas).

Meanwhile, exploratory investment is projected to rise to US$1.7 billion in 2023, more than double the $800 million in realized investments last year.

Indonesia to accelerate oil and gas exploration amid high prices

The upstream oil and gas regulatory body has expanded the country's exploration and targets for this year to banking on higher firms' revenue driven by last year’s price surge for crude.

www.thejakartapost.com

 

[Indos]

SKK Migas reported that the realization of oil lifting in 2022 is 612,300 barrels per day (BOPD), only 87 percent of the state budget target. Then the realization of lifting or gas flow reached 5,347 million cubic per day (MMSCFD) or 92 percent of the state budget target.

5,347 MMSCFD which means 5.3 Billion MMSCFD which is huge increase from 2021 gas production if we see this Youtube channel.

 

[Indos]

​

SKK Migas reported that the realization of oil lifting in 2022 is 612,300 barrels per day (BOPD), only 87 percent of the state budget target. Then the realization of lifting or gas flow reached 5,347 million cubic per day (MMSCFD) or 92 percent of the state budget target.

Indonesia oil consumption is 1.63-million-barrel per day which mean Indonesia has deficit of 1 million barrel of oil per day.

The video below also show large consumption of oil in Singapore and India. For information, both nations are large refined oil producers where majority will be exported. Their majority imported oil will be refined in the countries before being exported.

 

[Indos]

Indonesia oil consumption is 1.63-million-barrel per day which mean Indonesia has deficit of 1 million barrel of oil per day.

The video below also show large consumption of oil in Singapore and India. For information, both nations are large refined oil producers where majority will be exported. Their majority imported oil will be refined in the countries before being exported.

Correction, from latest report (2023), the deficit is only 30.000 barrel of oil per day.

Konsumsi Energi Sudah Normal, RI Kekurangan Minyak 30.000 Barel/Hari

 

[Indos]

Amazing ! This Region in the Republic of Indonesia Stores Up to 25 Billion Barrels of Oil​

NEWS - Verda Nano Setiawan, CNBC Indonesia
30 January 2023 13:25

Jakarta, CNBC Indonesia - The Ministry of Energy and Mineral Resources (ESDM) revealed the potential for jumbo oil and gas resources in the Warim Block of Papua. Even the oil potential in the Warim Block can reach 25 billion barrels.


Minister of Energy and Mineral Resources Arifin Tasrif said the government would optimize oil and gas production in the country. One of them is through the development of the Warim Block.

"So in Warim it's a potential oil of 25 billion barrels. If really, only 20 percent can be taken, 5 billion is good for Indonesia. Moreover, the gas has the potential to reach 47 TCF," said Arifin in a press conference at the Ministry of Energy and Mineral Resources Building, Monday (30/1/2023).

Although, it has considerable potential to be developed. However, the working area, which is located in the border area with Papua New Guinea, is within the lorentz national forest area. "Even though its neighbors in Papua New Guinea are already producing oil and there is LNG facilities," he said.

Therefore, the government will try to optimize the natural resources in the country. The reason is, if it is left alone, Indonesia will lose foreign exchange for imports.

"Of course we have to anticipate. We are working on talking to the Ministry of Environment and Forestry but this is also related to the determination from Unesco, we hope that there will be a good solution how we can use it," he said.

Dahsyat! Wilayah RI Ini Simpan Minyak Sampai 25 Miliar Barel

Indonesia ternyata masih memiliki sumber daya minyak mentah, bahkan mencapai 25 miliar barel per hari

www.cnbcindonesia.com