Indonesia Continues to Find Massive Oil Reserves

By Editorial Team 06/02/2023
Summary

The Indonesian government revealed massive oil potential of up 33 billion barrels in two basins in eastern Indonesia, the Seram Basin in Maluku and the Warim Basin in Papua. The former is expected to contain 7,596 million barrels of oil (MMBO), while the latter's oil potential may reach 25,968 MMBO.

Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) Head Dwi Soetjipto said that the exploration of both basins would be part of Indonesia's long-term strategy to increase national oil production. "Should the two basins be successful, they can add long-term oil reserves and, of course, production," he said last week.

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