RI's oil reserves to deplete in seven years
Monday, September 11 2000 - 04:00 AM WIB
Indonesia's oil reserves is projected to deplete in seven years if fuel domestic demand continues at current level, according to director general of oil and gas Rachmat Sudibyo.
Rachmat was also quoted by the Kompas daily as saying that Indonesia would become a net oil importer in five years.
"Our oil reserves is only 4.8 billion barrel. Meanwhile, every year Indonesia produces 550 million barrel or around 4-5 percent," he said.
He said that Indonesia oil reserves was actually estimated at 9.5 billion barrel, but the remainder was a probable reserves.
Rachmat said that it was crucial for Indonesia to lower fuel consumption by finding alternative source of energy.
He pointed out coal briquette as alternative to kerosene as an example. He, however, admitted that the current price of coal briquette was still expensive.
Minister of Mineral Resources and Energy Purnomo Yusgiantoro admitted earlier that the country's energy diversification program was inhibited by the price structure problem.
Purnomo said that alternative sources of energy in Indonesia was actually abundant including natural gas, geothermal, and coal. (*)