Indonesia's Oil Discovery Ratio is Less Than 50 Percent

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03/08/2016 14:49 WIB

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Indonesia's Oil Discovery and Production Ratio 2007-2014

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Indonesia's Oil Discovery Ratio is Less Than 50 Percent

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Indonesia's Oil Discovery and Production Ratio 2007-2014

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The average reserves replacement ratio for oil in Indonesia remains below 70 percent. For the 2011-2013 period, this ratio was even more extreme, declining to below 50 percent.

This low ratio indicates that for every barrel of oil consumed, Indonesia only manages to find a replacement for half of it. The Ministry of Energy and Mineral Resources states that without significant new discoveries, Indonesia's oil reserves will continue to dwindle and be depleted within the next 15 years.

The declining discovery rate is attributed to the plunge in global crude oil prices to US$30 per barrel. This condition has led to a decrease in oil and gas investment worldwide.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia's Oil Discovery Ratio is Less Than 50 Percent

Indonesia's Oil Discovery Ratio is Less Than 50 Percent

Indonesia's Oil Discovery Ratio is Less Than 50 Percent

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Indonesia's Oil Discovery Ratio is Less Than 50 Percent

Indonesia's Oil Discovery Ratio is Less Than 50 Percent

Indonesia's Oil Discovery Ratio is Less Than 50 Percent

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Energy Production Projections in Southeast Asia until 2029, Indonesia Ranks Highest

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