Oil experts gather on deepwater explorations

Hundreds of local and foreign experts on deepwater explorations started their three-day meeting in Jakarta on Tuesday as Indonesia is anticipating a boom in deepwater explorations.

The Second Regional Seminar on Deepwater Sedimentation of South East Asia, organized by the Indonesian Sedimentologist Forum (FOSI), a division of the Indonesian Association of Geologist (IAGI), opened with a keynote speech by FX Sujanto, senior advisor to state oil and gas company Pertamina's upstream vice president.

Deepwater explorations in Indonesia center around the Makassar Straits offshore East Kalimantan, where American oil and gas company Unocal Corp., the pioneer of deepwater explorations in the country, have discovered significant reserves in the West Seno and Merah Besar fields.

The government has been offering six new blocks in the area. No less than five major oil companies have shown interest in the blocks.

Sujanto said the six blocks were believed to have the potential resources of five billion barrels of oil and 30 trillion cubic of natural gas.

He said deepwater exploration activities in the area would be booming after the awarding of the contracts on the block later this year.

Sujanto noted Indonesia has to compete with other countries in the region which were also trying to attract investors to develop their deepwater resources.

A total of 25 deepwater blocks are being offered in Asia, including two blocks in Brunei and eight blocks in India, he said.

IAGI president Andang Bachtiar said the seminar aimed to bring together geoscientists and researchers who are keen to share their experience and expertise in order to better understand the potential of deepwater basins and find ways to economically develop the system.

The seminar, held at the Hotel Mulia, will last until May 16. (Alex)