Indonesia Focuses on Five Potential Oil and Gas Basins

By Editorial Team 29/06/2022
Summary

Indonesia has 70 unexplored oil and gas basins, but, for the time being, its government will only focus on five areas in the eastern part of the country: Buton, Seram, Warin, Aru, and Timor. Energy and Mineral Resources (ESDM) Ministry's director-general of oil and gas Tutuka Ariadji said these areas could become new frontiers in the search for oil and gas reserves. "Indonesia still has many unexplored basins, and that is not an easy thing. Currently, the government is focusing on five areas," Tutuka said on Tuesday. These five areas are picked based on the 2D seismic data collected by PHE Jambi Merang in a survey that took place from November 20, 2019, to August 3, 2020.

Tutuka suggested Indonesia's oil and gas sector, which is currently in decline, would need new incentives to boost production. At the moment, the Indonesian government is trying to improve the terms and conditions for the oil and gas block auction. "The government is also making improvements in the fiscal system of the oil and gas management," he said.

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