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Latest NewsIndonesia has 150 oil fields
Indonesia has 150 oil fields

Indonesia has 150 oil fields

Denpasar, Bali, 11/14/07 (ANTARA News) – Indonesia has a total of 150 oil fields, but only 58 fields are in production process with production of around 900,000 up to one million barrels per day.

The remaining 92 oil fields are in the process of exploration with a high failure rate, Chairman of the Oil Technical Expert Association (IATMI) Kuswo Wahyono said here On Wednesday.

The failure rate was up to 70 percent because the difficulties in detecting oil sources inside the Earth, Wahyono said on the sidelines of the Joint Convention of IATMI, IAGI (Indonesian Association of Geologists) and HAGI (Indonesian Association of Geophysics).

Although the failure rate was quite high, it was still better than those in other countries which reached up to 80 percent, he said.

Indonesia still needed foreign investors to invest in oil drilling business and alternative energy development, he said.

The theme of the joint Convention being held from Nov. 13 to 16 in Nusa Dua, Bali, is “Optimization of Mixed Energy Resources for National Energy Security”.

There are various reasons for highlighting such theme, the Convention organizing committee said in its website. The Indonesian government has announced a National Energy Mixed Program to achieve in 2025 and Indonesian geoscientists are more than just confident to achieve such target, it said.

Having such a huge potential of natural resources and the need to meet the energy demand, the three geoscientist organizations, namely IAGI, HAGI and IATMI, believef that Indonesia should be able to independently fulfill its energy demand, it said.

This is the biggest convention as the attendees included those from every different interest in extractive business, namely geologist, geophysicist, petroleum engineer, environmentalist, government officers, mineral economist, earth scientists, policy makers, and students. (*)

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