RI oil production very likely be lower in 2012
Thursday, January 5 2012 - 07:20 AM WIB
Indonesian Association of Geologist (IAGI) predicted that the country?s oil production would very likely continue to decline this year, lower than the realization of only 903,441 barrel per day in 2011 due to the absence of new oil and gas well. The government targeted the daily oil production of 945,000 barrel per day in 2011 but its realization was only 903,441 barrel per day. In 2010, the country?s oil production was still 944,898 barrel per day.
?The oil production would continue to decrease in coming years, including in 2012 unless the government pay serious attention to exploration (of potential reserves of oil and gas) activities,? the newly appointed association chairman Rovicky Dwi Putrohari told the press conference on Thursday.
The association said that the exploration activities to discover potential reservoir of oil decreased since the year of 2000.
He said that the government needed to formulate incentives to encourage investors to explore new oil reservoirs particularly on the eastern part of Indonesia.
?It is also important for the government to develop the explorations on non conventional sources of fuel such as coal bed methane and the shale gas to meet the increasing demand on energy in the future,? he said.