East Java has the largest oil reserves in Indonesia.

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Adi Ahdiat 24/02/2023 14:12 WIB

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According to the Ministry of Energy and Mineral Resources (ESDM), Indonesia's proven oil and condensate reserves totaled 2,245.18 MMSTB in 2021, with the majority located in East Java.

Distribution of Proven Oil and Condensate Reserves in Indonesia (2021)

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Distribution of Proven Oil and Condensate Reserves in Indonesia (2021)

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According to data from the Ministry of Energy and Mineral Resources (ESDM), Indonesia had proven oil and condensate reserves of 2,245.18 million stock tank barrels (MMSTB) in 2021.

The largest proven oil and condensate reserves are located in East Java. Proven reserves in other regions are smaller, as shown in the graph.

Indonesia also has potential oil and condensate reserves of 698.21 MMSTB, and prospective reserves of 1,003.82 MMSTB.

However, these potential and prospective reserves appear to be untapped, given the continuous decline in national oil lifting capacity.

Based on the ESDM Ministry's report, in 2022, Indonesia's oil lifting realization reached 612,000 barrels per day (BPD). This figure is down from 2021 and represents the lowest level in thirteen years. A similar trend occurred with natural gas lifting.

According to Hageng Suryo Nugroho, Energy Expert at the Presidential Staff Office (KSP), the decline in Indonesia's oil and gas (migas) lifting is influenced by the condition of aging oil and gas fields and production facilities.

"New oil fields should have been opened to increase production. However, because it requires significant investment, the only option is to maximize the fields that are still economically viable to produce," said Hageng in a press release on the official KSP website (13/10/2022).

"The government is currently exploring deep-well drilling methods, reaching 3,000 feet, to find larger oil reserves. This unconventional drilling method requires precise technology and therefore costs three times more," said Hageng.

Despite the high costs, oil and gas drilling in Indonesia is expected to continue for several years to come. This is because, during the 2017-2022 period, investment realization in the oil and gas sector remained high and even tended to increase.

Editor : Adi Ahdiat

"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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East Java has the largest oil reserves in Indonesia.

East Java has the largest oil reserves in Indonesia.

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