Indonesia Remains Committed To OPEC

May 2006 | Project News

While Indonesia held proven oil reserves of 4.72bn barrels at the end of 2004, according to the June 2005 BP Statistical Review of World Energy, the December 2005 Oil & Gas Journal survey suggests a decline to 4.3bn barrels last year. The same report states that Indonesia has end-2005 proven natural gas reserves of 2,770bcm. While the oil reserves trend is clearly downwards, with little scope for a reversal, there are new and substantial gas resources to be exploited, with potential for stable medium-term gas reserves estimates. Our projections are for oil reserves of 4.0bnbn barrels by 2010, with gas

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