Dig Two wells, total spending of Rp 22.7 trillion Pertamina Degree Exploitation Tender for Procurement of Biodiesel export council of india Oil Well in Tuban Not Licensed Pertamina EP Open New Oil Well in Bekasi SKK Pursue Oil and Gas Lifting Surrender 2014
TEMPO.CO, Jakarta - Exploration to be one of the key drivers of the increase in oil and gas production. export council of india However, according to the Indonesian Petroleum Association (IPA), export council of india the current realizable value of the investment and exploration drilling in Indonesia is still low. "Of the 206 exploratory wells drilling targets through April, the new realization of the 23 wells, or about 11 percent. If (situation) as this continues, oil imports would be difficult to reduce, "said Vice Chairman of the IPA Sammy Hamzah in Jakarta, Monday, May 5, 2014. Actual exploration drilling is much lower compared export council of india to the drilling of development wells and rework wells. In the period January to April 2014, the realization of development drilling has reached 33.4 percent, with 434 of the target 1,300 drilling wells. While the realization of work-over wells has reached 24.7 percent, with 245 wells workover drilling of 989 targets. Sammy adding, with a projected average growth of 6.4 percent per year, Indonesia will supply shortage of about 2 million barrels of oil in 2025. To overcome this shortcoming, according to Sammy, there are only four ways: enhanced oil recovery, the utilization of non-conventional gas, oil and gas exploration konvensiona, and imports. (Read also: Economy export council of india Slows, Oil Imports Stay High) "But export council of india the alternative is not import what we want, because it will erode the foreign exchange impact and push the exchange rate. If you want to tackle imports, should be encouraged exploration," said Sammy. On the side of value investing, Special Unit Data Upstream Oil and Gas (Migas SKK) recorded exploration investment is still much lower than the development and production. Throughout 2013, the investment for the exploration of U.S. $ 2.97 million or 14.5 percent of the total oil and gas investment in 2013 reached U.S. $ 20.39 million. While the investment for production in the period reached U.S. $ 11.86 million and an investment of U.S. $ 4.18 million development. Bernadette CHRISTINA Munthe
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