Tuesday, July 16, 2024

Indonesia identifies major oil reserves in three key basins

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The Upstream Oil and Gas Regulatory Task Force (SKK Migas) has revealed significant untapped oil and gas resources in three critical basins in Indonesia, collectively holding potential resources amounting to tens of billions of barrels of oil equivalent (mboepd), both from already discovered sources and those awaiting exploration.

Nanang Abdul Manaf, Chief Advisor to SKK Migas told the IPA Convex 2024 event on Thursday, May 16, 2024, that three basins are the North Sumatra Basin, the South Sumatra Basin, and the East Java Sea Basin.

“In the North Sumatra Basin, we have discovered over eight billion mboepd of resources, yet this area remains largely unexplored,” Nanang said.

Additionally, there are nine billion mboepd of identified resources in the North Sumatra Basin that await discovery through future exploration.

Recent significant discoveries, such as Timpan I by Harbour Energy and the Layaran I and Tangkulo I wells by Mubadala Energy, indicate a high potential for further finds in this region.

However, the North Sumatra Basin faces challenges due to its high carbon dioxide (CO2) content. Meanwhile, the South Sumatra Basin has over 18.7 billion mboepd of discovered resources and another 11.4 billion mboepd identified but yet to be found.

Similar to the North Sumatra Basin, the high CO2 levels also pose extraction challenges in the South Sumatra Basin.

The East Java Sea Basin is another area with substantial resources, boasting more than 10.3 billion mboepd discovered and an additional 9.9 billion mboepd identified but not yet uncovered. Much of this region is still considered underexplored, offering significant opportunities for future exploration.

Nanang emphasized the attractiveness of these basins, representing the western part of Indonesia, for exploration due to their untapped potential.

“New discoveries are beginning to unlock opportunities for unexplored resources in these productive basins,” he stated.

As Indonesia looks to enhance its energy reserves, these findings highlight the importance of continued investment and exploration in these resource-rich areas. The potential for significant new discoveries underscores the need for strategic efforts to harness these resources effectively.

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