JakartaGlobe-Feb 22

Indonesia still has 68 unexplored oil and gas basins across the archipelago, and the resource-rich country wants to ramp up its exploration, according to Energy Minister Arifin Tasrif on Tuesday. Government data shows that Indonesia is home to a total of 128 basins. The country’s oil and gas production comes out of 20 basins. Indonesia has eight drilled basins, but they have yet to produce oil and gas. Nineteen basins show signs of hydrocarbon — a chemical compound commonly found in crude oil and natural gas. “Thirteen basins are drilled, but dry [or no discovery of oil and gas]. This is the risk that companies face, namely in how they spend money to explore but find dry holes,” Arifin said at a GECF-ERIA joint workshop on the natural gas market in Jakarta on Tuesday. “We have 68 basins still undrilled. We would have to conduct studies, such as seismic surveys, to make sure that there is a potential for resources,” the minister said.

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